NCLT Indore admits Encore ARC's application under Section 95 IBC to initiate insolvency against personal guarantor Keshav Kumar Nachani for Rs 14.52 crore debt.
The debt stems from a 2015 loan to Gnext Telecom, classified as NPA in 2016, with guarantee invoked via SARFAESI notice in 2016.
Tribunal overrules limitation objections, citing 2017 acknowledgment letter and balance sheet entries that extended the limitation period.
Resolution Professional Bishwa Ranjan Chatterjee appointed to manage 180-day moratorium and oversee debt repayment plan formulation.