NCLT Kolkata admits Indian Bank's application to initiate insolvency against personal guarantor Madan Gopal Jhawar of Burgundy Life Style.
Tribunal rejects guarantor's limitation plea, ruling debt acknowledgments by principal borrower extend limitation period.
Court declares moratorium on all debts of guarantor and appoints Meena Sureka as Resolution Professional.
RP directed to publish notice inviting claims and prepare repayment plan within specified timelines.