In Brief
The State Trading Corporation of India sought to resolve a commercial dispute with Global Steel Holding Limited. The parties reached settlement: the respondents paid the amount owed to the appellant, and both sides agreed there were no further claims under their agreement. The Supreme Court, exercising powers under Articles 136 and 142 of the Constitution, quashed the proceedings arising from the agreement and the appellant withdrew its winding-up proceedings in the Isle of Man court. The dispute was thereby fully resolved through mutual consent and payment.
The lawyer headnote and full judgment text are available to registered users.