# In the matter of Versatile Process Controls Pvt. Ltd. Vs. Swift Solutions MSC SDN BHD. SLP (C) No. 10212-2018

> SC judgment dated 2018-04-27. Citation: TCN-2018-SC-00059. This is a petition for Special Leave to Appeal arising out of a final judgment and order dated…

- **Court:** SC
- **Order date:** 27 Apr 2018
- **Citation:** TCN-2018-SC-00059
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/versatile-process-controls-pvt-ltd-vs-swift-solutions-msc-sdn-bhd-slp-a92a5f6e

## Summary

### Background

This is a petition for Special Leave to Appeal arising out of a final judgment and order dated 02-04-2018 in CP No. 1255/2017 passed by the National Company Law Tribunal, Mumbai Bench. The matter concerns Versatile Process Controls Pvt. Ltd. versus Swift Solutions MSC SDN BHD.

## Facts

Versatile Process Controls Pvt. Ltd. filed a Special Leave Petition against Swift Solutions MSC SDN BHD. The petition arose from a final judgment and order dated 02-04-2018 in CP No. 1255/2017 passed by the National Company Law Tribunal, Mumbai Bench. During the hearing, a settlement agreement dated 18th April, 2018 was presented and taken on record. The court noted that the dues had been settled between the parties. This settlement led to the court setting aside the impugned order.

## Issues and analysis

### Issue 1: Whether the settlement agreement between …

**Ratio:** A settlement agreement reached between parties in a legal dispute can be taken on record

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**Reasoning:** The court acknowledged the settlement agreement presented by the parties, indicating that

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**Interpretation:** The court's acceptance of the settlement agreement reflects a policy of

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**Application:** In this case, the settlement agreement dated 18th April, 2018 was taken on

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## Parties

- **Judges:** ADARSH KUMA…; DEEPAK…
- **Appellants:** VERSATILE PROCESS…
- **Respondents:** SWIFT SOLUTIONS…
- **Other parties:** Over Tu…

## Timeline

- **2017-01-01 — CP No. 125…**: Proceedings at the National…
- **2018-04-02 — Impugned Ord…**: Date of the final judgment and order passed by the National Company Law Tribunal, Mumbai…

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