Kristal Projects India CIRP Admission for ₹135.59 Crore Default

NCLT Bengaluru admits Kristal Projects India Ltd to Corporate Insolvency Resolution Process under Section 7 of IBC 2016 for default on corporate guarantee.
Petitioner Omkara ARC claims ₹135.59 crore debt comprising ₹28.65 crore principal, ₹28.86 crore interest, ₹78.06 crore penal interest, and ₹1.27 lakh charges.
Debt originated from DHFL's 2011 loan to Kristal Infrastructure, assigned to Piramal Capital via DHFL resolution plan, then to Omkara ARC via 2023 deed.
Tribunal cites Supreme Court precedents on guarantor liability, validates default date as 18.02.2019, and appoints Nilesh Kothari as Interim Resolution Professional.