NCLT Mumbai admits personal bankruptcy petition filed by Mr. Jagdishchandra Mansukhani against himself as guarantor for Man Tubinox Ltd.
Total admitted debt is Rs. 40.44 crore owed to STCI Finance, Sammaan Capital, and Bank of Baroda.
Bankruptcy process commences after failed repayment plan received only 58.82% creditor approval, below the required 66% threshold.
Mr. Pratul Kumar Singh appointed as Bankruptcy Trustee with estate vesting and fresh moratorium under Section 128.