M/s Hetauda Industries Pvt Ltd, the corporate debtor, availed a financial facility and term loan of INR 4.75 Crores from the Bank of Maharashtra in March 2015. Mr. Abhay Kumar Singh, a director of the corporate debtor, executed a guarantee agreement in his individual capacity on April 29, 2015, for these loans. The principal borrower subsequently defaulted on repayment, leading the creditor to declare the account as a Non-Performing Asset (NPA) on December 20, 2017. The Bank of Maharashtra issued a legal notice under Section 13(2) of SARFAESI recalling the loan facilities and invoking the guarantee on January 3, 2018. A demand notice was also issued on August 23, 2022, under Section 95(4)(b) of the IBC 2016 read with Rule 7(1) of the Insolvency and Bankruptcy

M/s Hetauda Industries Pvt Ltd, the corporate debtor, availed a financial facility and term loan of INR 4.75 Crores from the Bank of Maharashtra in March 2015. Mr. Abhay Kumar Singh, a director of the corporate debtor, executed a guarantee agreement in his individual capacity on April 29, 2015, for these loans. The principal borrower subsequently defaulted on repayment, leading the creditor to declare the account as a Non-Performing Asset (NPA) on December 20, 2017. The Bank of Maharashtra issued a legal notice under Section 13(2) of SARFAESI recalling the loan facilities and invoking the guarantee on January 3, 2018. A demand notice was also issued on August 23, 2022, under Section 95(4)(b) of the IBC 2016 read with Rule 7(1) of the Insolvency and Bankruptcy