AdvertisementCanara Bank Limited Vs Sanjana Uday Desai (NCLT Mumbai) The National Company Law Tribunal (NCLT), Mumbai Bench, considered a petition filed by Canara Bank Limited under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, seeking initiation of the Insolvency Resolution Process (IRP) against the personal guarantor of Frost International Limited for an alleged default of ₹671,56,76,843.68. The petitio...