NCLT Mumbai admits insolvency application against personal guarantor Koppara Gul Hussain Sait for default on Rs 34.64 crore debt.
Application filed by ASREC (India) Ltd, which acquired debt from Indian Bank originally lent to Landmark Motels.
Tribunal finds guarantee validly invoked via recall notice and initiates 180-day moratorium under IBC.
Resolution Professional Mrudula Cletus Brodie appointed to manage process and prepare repayment plan.