The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Vishwajeet Jhawar, a Pune-based businessman who stood as a personal guarantor for real estate firm Marveledge Realtors Pvt. Ltd., over an alleged default of Rs. 226.89 crore.
The order was passed by the bench comprising Prabhat Kumar (Technical Member) and Sushil Mahadeorao Kochey (Judicial Member) while hearing a petition filed by financial creditor APRN Enterprises Pvt. Ltd., formerly known as Ansapack Pvt. Ltd., under the provisions of the Insolvency and Bankruptcy Code, 2016.
Tribunal records reveal that APRN Enterprises had extended an inter-corporate deposit of Rs. 25 crore on February 10, 2017, to…