https://www.taxtmi.com/caselaws?id=392194 The tribunal admitted the petition filed by Bank of India under Section 7 of the Insolvency and Bankruptcy Code, initiating Corporate Insolvency Resolution Process (CIRP) against Pacific Pipe Systems Private Limited for default in loan repayment. The tribunal appointed an Interim Resolution Professional (IRP), Mr. Chandra Prakash Jain, declared a moratorium, and directed compliance with the Insolvency and Bankruptcy Code provisions. The petition was found complete, filed within the limitation period, and supported by evidence of debt acknowledgment. The order aimed to facilitate the CIRP process while protecting the Corporate Debtor's interests. en-us Wed, 18 Dec 2019 00:00:00 +0530 Sat, 15 Feb 2020 11:51:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392194 The tribunal admitted the petition filed by Bank of India under Section 7 of the Insolvency and Bankruptcy Code, initiating Corporate Insolvency Resolution Process (CIRP) against Pacific Pipe Systems Private Limited for default in loan repayment. The tribunal appointed an Interim Resolution Professional (IRP), Mr. Chandra Prakash Jain, declared a moratorium, and directed compliance with the Insolvency and Bankruptcy Code provisions. The petition was found complete, filed within the limitation period, and supported by evidence of debt acknowledgment. The order aimed to facilitate the CIRP process while protecting the Corporate Debtor's interests. Case-Laws Insolvency and Bankruptcy Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392194