NCLT Initiates Insolvency Proceedings Against Marvel Group Promoter Vishwajeet Jhawar
Mumbai: The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Marvel Group promoter Vishwajeet Jhawar.
The order was pronounced on January 30 by the NCLT Mumbai bench comprising Justices Prabhat Kumar and Sushil Mahadeorao Kochey. The decision came after a petition filed by APRN Enterprises (formerly Ansapack) over outstanding dues.
According to the petition, the company sought the initiation of the Corporate Insolvency Resolution Process (CIRP) against Jhawar for an outstanding debt of ₹226.89 crore. The plea was filed on July 7, 2025, citing non-payment of dues.
