https://www.taxtmi.com/caselaws?id=354128 The Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code to initiate the Corporate Insolvency Resolution Process against M/S Parerhat Gas Industries Ltd. The financial debt claimed to be in default was over Rs. 1,18,41,92,137.17. The tribunal appointed an Interim Resolution Professional and declared a moratorium effective from 30.11.2017. The Corporate Debtor and stakeholders were directed to cooperate with the IRP, and the CIRP process was initiated with a public announcement and submission of claims. The application was admitted and disposed of without costs. en-us Thu, 30 Nov 2017 00:00:00 +0530 Thu, 18 Jan 2018 08:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354128 The Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code to initiate the Corporate Insolvency Resolution Process against M/S Parerhat Gas Industries Ltd. The financial debt claimed to be in default was over Rs. 1,18,41,92,137.17. The tribunal appointed an Interim Resolution Professional and declared a moratorium effective from 30.11.2017. The Corporate Debtor and stakeholders were directed to cooperate with the IRP, and the CIRP process was initiated with a public announcement and submission of claims. The application was admitted and disposed of without costs. Case-Laws Insolvency and Bankruptcy Thu, 30 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354128