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Bankruptcy court admits Ansal API affiliate under Insolvency Resolution Process

The National Company Law Tribunal has admitted Katra Realtors into corporate insolvency resolution. This follows an application by IL&FS Financial Services, as Katra Realtors was a corporate guarantor for Ansal API, which is also undergoing insolvency. The tribunal noted that proceedings can be initiated against both the principal borrower and the guarantor simultaneously.