NCLT Declares Mehulkumar Patel Bankrupt for MAP Refoils

NCLT Ahmedabad admits Central Bank of India's petition to declare Mehulkumar Arvindbhai Patel bankrupt for a Rs 57.66 crore debt guarantee.
The personal guarantor's combined repayment plan of Rs 60 crores was rejected by creditors, leading to the bankruptcy order.
Mr. Kinjalkumar Madhubhai Chaudhary is appointed as Bankruptcy Trustee to take control of the guarantor's estate and administer its distribution.
The bankrupt faces travel restrictions and must submit a statement of financial position within seven days.