The case originated as a transferred matter from the High Court. Zenith Birla (India) Ltd. filed a petition against BBNC Consultancy Pvt. Ltd. under Section 433(e) of the old Companies Act, seeking recovery of an outstanding debt of Rs. 14,30,01,797. During the hearing on August 18, 2017, neither party was present. The court had previously granted an opportunity and issued a notice for the next hearing, but there was no compliance with the provisions of the IB Code. A notification dated June 29, 2017, allowed parties to file fresh applications under Sections 7, 8, or 9 of the IBC. Consequently, the petition was abated and dismissed.

The case originated as a transferred matter from the High Court. Zenith Birla (India) Ltd. filed a petition against BBNC Consultancy Pvt. Ltd. under Section 433(e) of the old Companies Act, seeking recovery of an outstanding debt of Rs. 14,30,01,797. During the hearing on August 18, 2017, neither party was present. The court had previously granted an opportunity and issued a notice for the next hearing, but there was no compliance with the provisions of the IB Code. A notification dated June 29, 2017, allowed parties to file fresh applications under Sections 7, 8, or 9 of the IBC. Consequently, the petition was abated and dismissed.