NCLT Indore admits Cosmos Co-op Bank's application under Section 95 IBC to initiate insolvency against personal guarantor Nainesh Sanghvi for Rs 12.06 crore debt.
Tribunal overrules guarantor's limitation objections citing corporate debtor's balance sheet acknowledgments and Supreme Court's COVID limitation exclusion period.
Resolution Professional Neeraja Kartik Peri appointed to conduct insolvency process with moratorium effects and detailed procedural directions issued.