NCLT Terminates Raj Kumar Gupta Insolvency Process

NCLT approves creditors' decision to terminate the personal insolvency resolution process (PIRP) of guarantor Raj Kumar Gupta.
Guarantor failed to submit any repayment plan for admitted claims totaling ₹26,672 crores from six major banks.
Tribunal grants liberty to creditors to file for bankruptcy under Chapter IV of the IBC against the personal guarantor.
Resolution Professional Pankaj Kumar Gupta discharged, entitled to claim costs from stakeholders as moratorium ceases.