J&K Bank Initiates Insolvency Against Personal Guarantor

Jammu & Kashmir Bank filed to initiate insolvency against Mrs. Santosh Salaria, a personal guarantor for a corporate debtor.
The tribunal appointed Mr. Divyesh Desai as Resolution Professional to examine the application and submit a report.
An interim moratorium is in effect, staying all legal proceedings against the guarantor until the application is admitted.
The Financial Creditor was directed to make an advance payment of ₹2 lakh to the Resolution Professional.