Admiron Life Sciences Private Limited filed a Company Petition to initiate Corporate Insolvency Resolution Process (CIRP). The petition was filed under Section 10 of the Insolvency and Bankruptcy Code, 2016. The State Bank of India (SBI) had extended loan facilities to Admiron Life Sciences. SBI had already initiated action under the SARFAESI Act. The debt was not in dispute. The proposed Resolution Professional was eligible to be appointed as IRP. SBI had no objection to initiating CIRP. The Company Petition was admitted on 2017-07-28. The Learned Counsel for the Respondent expressed no objection for appointment of IRP and imposition of moratorium.

Admiron Life Sciences Private Limited filed a Company Petition to initiate Corporate Insolvency Resolution Process (CIRP). The petition was filed under Section 10 of the Insolvency and Bankruptcy Code, 2016. The State Bank of India (SBI) had extended loan facilities to Admiron Life Sciences. SBI had already initiated action under the SARFAESI Act. The debt was not in dispute. The proposed Resolution Professional was eligible to be appointed as IRP. SBI had no objection to initiating CIRP. The Company Petition was admitted on 2017-07-28. The Learned Counsel for the Respondent expressed no objection for appointment of IRP and imposition of moratorium.