NCLT admits personal insolvency resolution plea against Mahesh Shetty of MT Educare
The National Company Law Tribunal (NCLT) in Mumbai has accepted Prudent ARC's application to begin personal insolvency resolution proceedings against Mahesh R Shetty, promoter of MT Educare, for a default of Rs 16.64 crore. Shetty had provided a personal guarantee for these loans. The tribunal directed the resolution professional, Santanu T. Ray, to issue a public notice inviting claims from creditors.
