# In the matter of Srimaa Import and Export Pvt. Ltd. Vs. Azzura Marina Liners Pvt. Ltd. Civil Appeal No. 6173-2018

> SC judgment dated 2018-07-06. Citation: TCN-2018-SC-00044. The case originates from a Special Leave Petition (Civil) No. 13417 of 2018, arising from a final…

- **Court:** SC
- **Order date:** 6 Jul 2018
- **Citation:** TCN-2018-SC-00044
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/srimaa-import-and-export-pvt-ltd-vs-azzura-marina-liners-pvt-ltd-civil-appeal-no-5a5a41a8

## Summary

### Background

The case originates from a Special Leave Petition (Civil) No. 13417 of 2018, arising from a final judgment and order dated 13-04-2018 in CP No. 183/2018 passed by the National Company Law Tribunal, Kolkata Bench. The matter was admitted by the NCLT, and the parties entered into a settlement.

## Facts

The case involves SRIMAA IMPORT AND EXPORT PVT. LTD. as the appellant and AZZURA MARINA LINERS PVT. LTD. as the respondent. The dispute originated from an order passed by the National Company Law Tribunal (NCLT), Kolkata Bench, in CP No. 183/2018. The parties subsequently entered into a settlement after the matter was admitted by the NCLT. The key fact is the settlement agreement reached between the parties, which led the Supreme Court to set aside the NCLT order and dispose of the appeal. The Terms of Settlement were dated 15.05.2018. The original NCLT order was dated 13.04.2018.

## Issues and analysis

### Issue 1: Whether the Supreme Court should set aside the order of the National Company Law Tribunal (NCLT) …

**Ratio:** The principle of upholding settlements and promoting amicable resolution of disputes is a

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**Reasoning:** The Supreme Court reasoned that since the parties had entered into a settlement after the

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**Interpretation:** This issue involves the interpretation of the court's power to set aside orders

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** ROHINTON FALI…; Indu Mal…
- **Appellants:** SRIMAA IMPORT AND…
- **Respondents:** AZZURA MARINA…
- **Other parties:** Over Tu…

## Timeline

- **2018-04-13 — NCLT Ord…**: Order passed by the National Company Law…
- **2018-05-15 — Terms of Set…**: Parties entered into a…

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