NCLT Kolkata admits UCO Bank's petition to initiate insolvency against personal guarantor Sharmila Khemka for ₹479.82 crore dues.
The guarantor's application to dismiss the case as time-barred was rejected, with the tribunal ruling the SARFAESI notice constituted valid invocation.
The tribunal appointed a resolution professional and declared a moratorium for 180 days, directing the preparation of a repayment plan.
The case involves guarantees provided for corporate debtor Nandini Impex Private Limited, which is already under CIRP.