NCLT Closes Lakshminarayana Personal Insolvency Process

NCLT Amaravati Bench grants a 15-day extension to the Personal Insolvency Resolution Process for M. Lakshminarayana, based on a 100% CoC vote.
The Tribunal closes the insolvency proceedings against the personal guarantor after his repayment plan was rejected by State Bank of India.
The Resolution Professional is discharged from his duties, and the Financial Creditor is granted liberty to initiate bankruptcy proceedings.