Vurupa Trading CIRP Admission for INR 68.75 Crore Default

NCLT Bengaluru admits Vurupa Trading Pvt Ltd to Corporate Insolvency Resolution Process (CIRP) for defaulting on INR 68.75 crore corporate guarantee.
Petition filed under Section 7 of IBC by Silbhadar Vyapaar based on invoked guarantee for principal debtor Kordash Handlers.
Tribunal rejects respondent's limitation and NeSL Form D objections, citing Supreme Court precedents on guarantor liability.
Ashish Shah appointed as Interim Resolution Professional with directions to coordinate with principal debtor's liquidation process.