It states that if net torque acting on an isolated system is zero, the angular momentum remains conserved.
Since Torque is equal to the rate of change of angular momentum so when torque is zero,
dL/dt=0
So, L= constant.
It is the very fundamental law of physics law of physics which helps to calculate angular momentum, torque, force, a moment of Inertia of a particle or rigid body and other variables related to it.
Sometimes no torque acts.
Sometimes anticlockwise torque= Clockwise torque, in both the cases law is applicable.
But the system should be decided with the utmost care.