NCLT Admits Indian Bank's Insolvency Petition Against Sukant Jain

NCLT Allahabad admits Indian Bank's Section 95 application to initiate Personal Insolvency Resolution Process (PIRP) against Sukant Jain, personal guarantor for SSJ Agro Tech Pvt Ltd.
The tribunal confirms a debt of ₹8.38 crore as of 09.01.2024 and rules the application is within limitation, citing a DRT recovery certificate and COVID exclusion.
A moratorium is declared for 180 days, and Resolution Professional Virendra Maurya is directed to invite claims and oversee the repayment plan process.