NCLT Admits Insolvency Against Vaibhav Mungad

NCLT Indore admits insolvency application against Vaibhav Mungad for ₹10.48 crore personal guarantee default.
Debt originated from 2010 goods supply to Mungad Strips, crystallized via a 2020 settlement agreement.
Resolution Professional confirmed debt validity and default, recommending process initiation.
Moratorium imposed for 180 days; RP appointed to formulate a repayment plan.