Canara Bank filed a Rs 263.16 crore insolvency petition against personal guarantor Dr. Padmanabhan Shekar under IBC Section 95.
The Resolution Professional's report revealed the guarantor died on 29 January 2022, prior to the petition's filing on 25 September 2025.
The NCLT Mumbai Bench cited legal precedent that proceedings abate upon death and disposed of the case as closed.