NCLT Jaipur admits Section 94 insolvency petition against personal guarantor Devender Kumar Aggarwal of Prayag Polytech.
Aggarwal guaranteed loans totaling over Rs. 170.54 crore from Canara Bank and Union Bank to the corporate debtor.
Tribunal declares 180-day moratorium, bars legal actions against guarantor, and appoints Shamsher Singh as resolution professional.
RP directed to publish notice, invite creditor claims, and facilitate repayment plan submission within stipulated timelines.