NCLT Allahabad initiates bankruptcy process against personal guarantor Abhishek Kumar Singh for SBI debt of ₹10.38 crore.
The order follows a failed insolvency resolution after the sole creditor rejected the guarantor's repayment plan.
Resolution Professional Deepak Mittal is appointed as Bankruptcy Trustee to administer the debtor's estate.
The bankrupt faces legal restrictions and must submit a financial statement within seven days.