NCLT Admits Bank of India Insolvency Petition Against Bahubali Realbuild

NCLT admits Bank of India's Section 7 IBC petition against corporate guarantor Bahubali Realbuild for a default of ₹17.54 crore.
Corporate Debtor provided guarantee for loans to Sunbeam Dealers, which were classified as NPA on 30.04.2018.
Tribunal appoints Kanchan Dutta as IRP and declares moratorium under Section 14 of IBC.
Financial Creditor directed to pay ₹3 lakh to IRP for CIRP costs, to be adjusted later.