Paras Oswal Insolvency Initiated for ₹1 Crore Debt

NCLT Mumbai admits insolvency petition against personal guarantor Paras Bhomraj Oswal for ₹1 crore debt.
Guarantee was invoked due to default by Axis Clothing and Design Co. Pvt Ltd on ₹24.84 crore dues.
Resolution Professional appointed; 180-day moratorium declared on guarantor's assets and legal proceedings.
Petitioner directed to deposit ₹75,000 towards Resolution Professional's fees and expenses.