NCLT Mumbai admits UCO Bank's petition to initiate insolvency against personal guarantor Umesh Mehta for Janta Glass Ltd's default.
The admitted debt totals ₹699.13 crore as of January 2024, comprising principal and interest components.
The tribunal found valid guarantee invocation per agreement terms and ruled the application was within limitation period.
Sun Resolution Professionals appointed as RP with directions for public notice, claims submission, and repayment plan preparation.