# In the matter of Pipefield India Private Limited

> NCLT judgment dated 2025-07-30. Citation: TCN-2025-NCLT-01139. The application was filed by M/s Pipe Field India Private Limited, the Corporate Debtor, under…

- **Court:** NCLT
- **Order date:** 30 Jul 2025
- **Citation:** TCN-2025-NCLT-01139
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/pipefield-india-private-limited-02a64319

## Summary

### Background

The application was filed by M/s Pipe Field India Private Limited, the Corporate Debtor, under Section 10 of the Insolvency & Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process.

## Facts

The Corporate Debtor, Pipe Field India Private Limited, filed an application under Section 10 of the IBC for initiating CIRP.

The Corporate Debtor's Corporate Identification Number is U28110KL2013PTC033705.

The total amount of default towards financial creditors is Rs. 18,47,35,694/- and towards operational creditors is Rs. 2,00,25,246/-.

The default committed by the Corporate Debtor led to its loan accounts becoming NPA on 02.04.2019.

The Financial Creditor, State Bank of India, issued a demand notice under Section 13(2) of the SARFAESI Act on 13.11.2024.

The total liability of the Corporate Debtor as on 15.07.2025 is Rs. 60,38,19,914.00.

The Corporate Debtor has proposed the name of Mr. K.P. Dileep as the Interim Resolution Professional.

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## Issues and analysis

### Issue 1: Whether the application under Section 10 of the Insolvency and Bankruptcy Code, 2016 is complete …

**Ratio:** The application must be admitted if it is complete and the adjudicating authority is

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**Reasoning:** The Adjudicating Authority referred to the judgment of the Hon'ble NCLAT in Unigreen

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**Interpretation:** The Adjudicating Authority is bound to admit the application if all information

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**Application:** The Adjudicating Authority found that the application was complete and

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## Parties

- **Judges:** Vinay…; Madhu S…
- **Respondents:** Pipe Field India…
- **Other parties:** Ajith Bha…; Anupama…; +2 more
- **Advocates:** N.R. Krishn…; Vinod…

## Timeline

- **2019-04-02 — NPA Decla…**: The loan accounts of the…
- **2024-11-13 — SARFAESI…**: The Financial Creditor issued a demand notice…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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