Standard Chartered Bank Limited, the financial creditor, filed a petition against K.K Welding Limited, the corporate debtor, under Section 7 of the I&B Code. The petition was filed on 2019-04-11. The financial creditor claimed a total default of ₹30,55,73,479.17 as of 2019-02-28, including interest. The loan facility was extended for ₹27,50,00,000. The corporate debtor defaulted in making payments on 2018-01-31, and the petitioner declared the respondent a Non-Performing Asset on 2018-05-01. The petitioner issued a recall notice on 2018-08-02 demanding ₹28,23,41,658.77 and a notice under section 13(2) of the SARFAESI Act, 2002 on 2018-10-24 for ₹28,86,67,927.37. The corporate debtor filed an affidavit in reply but did not contend that there was no debt and default.

Standard Chartered Bank Limited, the financial creditor, filed a petition against K.K Welding Limited, the corporate debtor, under Section 7 of the I&B Code. The petition was filed on 2019-04-11. The financial creditor claimed a total default of ₹30,55,73,479.17 as of 2019-02-28, including interest. The loan facility was extended for ₹27,50,00,000. The corporate debtor defaulted in making payments on 2018-01-31, and the petitioner declared the respondent a Non-Performing Asset on 2018-05-01. The petitioner issued a recall notice on 2018-08-02 demanding ₹28,23,41,658.77 and a notice under section 13(2) of the SARFAESI Act, 2002 on 2018-10-24 for ₹28,86,67,927.37. The corporate debtor filed an affidavit in reply but did not contend that there was no debt and default.