NCLT admits Canara Bank's application to initiate insolvency resolution against personal guarantor Sumit Agarwal for a debt of ₹88.78 crore.
The tribunal appoints Gopal Bhoot as Resolution Professional and imposes a 180-day moratorium on the guarantor's assets and legal proceedings.
The RP is directed to issue public notice, invite creditor claims, and assist in preparing a repayment plan for the guarantor.