NCLT Admits Insolvency Against Gaurav Mungad Guarantee

NCLT Indore admits application under Section 95 IBC to initiate insolvency against personal guarantor Gaurav Mungad for ₹10.48 crore debt.
Debt originated from 2010 goods supply to Mungad Strips and Alloys, crystallized by a 2020 Settlement Agreement which included a personal guarantee.
The Resolution Professional's report confirmed the debt, default, and valid invocation of the personal guarantee, recommending admission.
The tribunal appointed a Resolution Professional and initiated a 180-day moratorium, directing the preparation of a repayment plan.