Supreme Court of India

Punjab Financial Corporation v. M/s Paulbro Leathers Pvt. Ltd.

Neutral citation
Reported as [2019] 1 S.C.R. 83
Bench Abhay Manohar Sapre and R. Subhash Reddy JJ.
Decided 7 January 2019

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

From the headnote

Settlement – One Time Settlement (OTS) – Respondent defaulted in repaying the loan taken from appellant-Co rporation – In terms of OTS policy, matter was referred to Chartere d Accountant to determine the remaining outstanding balance amou nt payable by the respondent to the appellant-Corporation – Di spute arose even after the settlement as to the liability determined and worked out by the Chartered Accountant – Demand of Rs.49 lacs raised on the respondent – Respondent filed writ petition before the High Court, which was allowed on the ground that since the whol e issue was settled with

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