The National Company Law Tribunal (NCLT) Mumbai Bench has admitted a personal insolvency petition filed by Yogendra Gangaram Mungale, who is a personal guarantor for Arogyam Medihub Private Limited, relating to bank default of ₹1.65 crore, thereby invoking the process of insolvency resolution and imposing a moratorium period of 180 days under the IBC 2016.
The application is made in terms of Section 94 of the IBC along with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019.Arogyam Medihub had taken a mortgage loan of ₹1.70 crore from Vaishya Sahakari Bank Limited in the month of March 2024. A personal guarantee was…