Punjab & Sind Bank, the Financial Creditor, filed an application under Section 7 of the IBC against Kay Bee Cotgin Pvt. Ltd., the Corporate Debtor.

The Corporate Debtor defaulted on a payment of Rs. 6,50,14,022/- as on 30.09.2024, with the date of default being 27.01.2022.

The Corporate Debtor had availed financial facilities from the Applicant-Financial Creditor, including Cash Credit Limit and Overdraft against Property.

The Corporate Debtor mortgaged various movable and immovable properties to secure the financial facilities.

Shri Ashok Kumar Gandhi, Amit Gandhi, Ashish Gandhi, Neera Gandhi, and Ravinder Chalana executed a Deed of Guarantee dated 25.02.2021 for repayment of the dues of the Corporate Debtor.

Punjab & Sind Bank, the Financial Creditor, filed an application under Section 7 of the IBC against Kay Bee Cotgin Pvt. Ltd., the Corporate Debtor.

The Corporate Debtor defaulted on a payment of Rs. 6,50,14,022/- as on 30.09.2024, with the date of default being 27.01.2022.

The Corporate Debtor had availed financial facilities from the Applicant-Financial Creditor, including Cash Credit Limit and Overdraft against Property.

The Corporate Debtor mortgaged various movable and immovable properties to secure the financial facilities.

Shri Ashok Kumar Gandhi, Amit Gandhi, Ashish Gandhi, Neera Gandhi, and Ravinder Chalana executed a Deed of Guarantee dated 25.02.2021 for repayment of the dues of the Corporate Debtor.