M/s. Sri Arumuga Sugars Ltd, the operational creditor, initiated proceedings against M/s. Badami Sugars Limited, the corporate debtor, under Section 7 of the I&B Code, 2016. The operational creditor claimed that the corporate debtor failed to pay an outstanding amount of Rs. 22,84,07,970.00. The case was listed for admission on 18.01.2019 and 23.01.2019, but was adjourned at the request of the parties. The court noted that the case was not being prosecuted diligently and listed it for dismissal. On 23.01.2019, no one appeared for the parties, leading the court to conclude that the parties were not interested in prosecuting the case. This lack of prosecution led to the dismissal of the petition.

M/s. Sri Arumuga Sugars Ltd, the operational creditor, initiated proceedings against M/s. Badami Sugars Limited, the corporate debtor, under Section 7 of the I&B Code, 2016. The operational creditor claimed that the corporate debtor failed to pay an outstanding amount of Rs. 22,84,07,970.00. The case was listed for admission on 18.01.2019 and 23.01.2019, but was adjourned at the request of the parties. The court noted that the case was not being prosecuted diligently and listed it for dismissal. On 23.01.2019, no one appeared for the parties, leading the court to conclude that the parties were not interested in prosecuting the case. This lack of prosecution led to the dismissal of the petition.