# In the matter of BBNC Consultancy Pvt. Ltd. T.C.P. No. 142-(MAH)-2017

> NCLT judgment dated 2017-08-18. Citation: TCN-2017-NCLT-00595. The case involves a transferred matter from the High Court to the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 18 Aug 2017
- **Citation:** TCN-2017-NCLT-00595
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bbnc-consultancy-pvt-ltd-tcp-no-142-mah-2017-964610c0

## Summary

### Background

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. The hearing was scheduled for 18.08.2017.

## Facts

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.

## Issues and analysis

### Issue 1: Whether the petition filed under Section 433(e) of the old Companies Act should be dismissed due to …

**Ratio:** A petition under the old Companies Act can be dismissed if a subsequent notification

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**Reasoning:** The court reasoned that the notification dated 29.06.2017 provided an avenue for the

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**Interpretation:** The notification was interpreted as providing an alternative legal recourse

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**Application:** Given the notification, the court applied the principle that the petitioner

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** Zenith Birla…
- **Respondents:** BBNC Consultancy…

## Timeline

- **N/A — Petition…**: The Petitioner moved the Petition under section 433(e) under the old provisions of the…
- **2017-06-29 — Notification…**: Issuance of one latest notification dated 29.06.2017 [F. No. 1/5/2016-CL-V] (GSR 732(E),…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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