Petitioner Bilimagga Raju files for voluntary insolvency resolution as personal guarantor for Plastech Formwork Systems Pvt Ltd.
Corporate debtor defaulted on Rs 13 crore principal and Rs 15.07 crore interest to Bank of India, classified NPA on 09.10.2024.
Tribunal appoints Chandan Yakkar Shanbhogue as Resolution Professional with initial deposit of Rs 30,000 required from petitioner.
Interim moratorium commenced from petition filing date 15.10.2025, case listed for next hearing on 11.06.2026.