The case involves a transferred matter from the High Court to the National Company Law Tribunal (NCLT), Mumbai Bench. The petitioner had filed a petition under Section 433(e) of the old provisions of the Companies Act, claiming an outstanding debt of Rs. 14,30,01,797. Earlier, an opportunity was granted, and notice was issued intimating the date of the next hearing, but no compliance was made under the provisions of the IB Code.
The case originated as a transferred matter from the High Court to the NCLT, Mumbai Bench. The petitioner, Zenith Birla (India) Ltd., filed a petition under Section 433(e) of the old Companies Act, seeking recovery of an outstanding debt of Rs. 14,30,01,797 from BBNC Consultancy Pvt. Ltd. The court had previously granted an opportunity and issued a notice for a subsequent hearing, but there was no compliance with the provisions of the IB Code. A crucial fact is the issuance of a notification dated 29.06.2017, which allowed parties to file fresh applications under Sections 7, 8, or 9 of the IBC after July 15, 2017. This notification directly impacted the existing petition, leading to its abatement.
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The petitioner moved the Petition under…
Issuance of notification [F. No.…
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The case involves a transferred matter from the High Court to the National Company Law Tribunal (NCLT), Mumbai Bench. The petitioner had filed a petition under Section 433(e) of the old provisions of the Companies Act, claiming an outstanding debt of Rs. 14,30,01,797. Earlier, an opportunity was granted, and notice was issued intimating the date of the next hearing, but no compliance was made under the provisions of the IB Code.
The case originated as a transferred matter from the High Court to the NCLT, Mumbai Bench. The petitioner, Zenith Birla (India) Ltd., filed a petition under Section 433(e) of the old Companies Act, seeking recovery of an outstanding debt of Rs. 14,30,01,797 from BBNC Consultancy Pvt. Ltd. The court had previously granted an opportunity and issued a notice for a subsequent hearing, but there was no compliance with the provisions of the IB Code. A crucial fact is the issuance of a notification dated 29.06.2017, which allowed parties to file fresh applications under Sections 7, 8, or 9 of the IBC after July 15, 2017. This notification directly impacted the existing petition, leading to its abatement.
The petitioner moved the Petition under…
Issuance of notification [F. No.…
Sign in to view related legal provisions.