NCLT Admits SBI Insolvency Petition Against Sarita Boorugu

NCLT Chennai admits State Bank of India's petition to initiate insolvency against personal guarantor Sarita Boorugu for a default of ₹157.12 crore.
Tribunal appoints Sudhir GS as Resolution Professional and declares a moratorium on the guarantor's debts for 180 days.
Court rejects guarantor's limitation plea, ruling the application is time-bound due to COVID exclusions and a fresh cause from the 2017 DRC.
NCLT orders that properties attached under MPID Act prior to moratorium will not form part of the insolvency estate, per Supreme Court directive.