NCLT Indore admits Cosmos Co-op Bank's application under Section 95 IBC against personal guarantor Aruna Sanghvi for Rs 12.06 crore debt.
Tribunal rejects respondent's limitation objections citing corporate debtor's balance sheet acknowledgments and COVID limitation exclusion.
Resolution Professional Neeraja Kartik Peri appointed to conduct 180-day insolvency resolution process with moratorium provisions.
Tribunal affirms jurisdiction under IBC overriding MSCS Act and validates joint-several guarantee liability despite co-guarantors.