Unity Small Finance Bank Limited, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Kaved Realty Private Limited, the Corporate Debtor. This action was taken because the Corporate Debtor, as a guarantor for Asuti Trading Private Limited (Borrower), defaulted on a credit facility originally provided by Punjab and Maharashtra Cooperative Bank (PMC Bank), which later merged with Unity Small Finance Bank Limited.

Unity Small Finance Bank Limited, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Kaved Realty Private Limited, the Corporate Debtor. This action was taken because the Corporate Debtor, as a guarantor for Asuti Trading Private Limited (Borrower), defaulted on a credit facility originally provided by Punjab and Maharashtra Cooperative Bank (PMC Bank), which later merged with Unity Small Finance Bank Limited.