NCLT initiates insolvency proceedings against Marvel Group promoter Vishwajeet Jhawar for failing to repay outstanding debt.
Mumbai, Mar 4 (PTI) The National Company Law Tribunal (NCLT) has ordered to initiate the insolvency proceedings against Marvel Group promoter Vishwajeet Jhawar.
The NCLT Mumbai order, pronounced by Justices Prabhat Kumar and Sushil Mahadeorao Kochey on January 30, was passed on a petition filed by APRN Enterprises (APRN), formerly known as Ansapack, for outstanding debt of Rs 226.89 crore.
APRN Enterprises in its petition, filed on July 7, 2025, asked for initiation of the Corporate Insolvency and Resolution Process against the Marvel Group promoter Vishwajeet Jhawar.
In its petition, APRN stated that the Marvel Group…