Kotak Mahindra Bank Limited (Financial Creditor) filed an application under Section 7 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Unity Realty And Developers Limited (Corporate Debtor). The application was based on a financial debt of Rs. 68,48,63,360.22, arising from financial facilities originally sanctioned by ING Vysya Bank Limited (which later amalgamated with Kotak Mahindra Bank) to M/s Unity Infraprojects Limited (Principal Borrower), for which the Corporate Debtor acted as a Corporate Guarantor. The Principal Borrower's account was declared NPA on 30.06.2015, and the guarantee was invoked on 07.10.2019. The liability of the Corporate Debtor was subsequently adjudicated by the DRT-II, Delhi, which issued a judgment on

Kotak Mahindra Bank Limited (Financial Creditor) filed an application under Section 7 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Unity Realty And Developers Limited (Corporate Debtor). The application was based on a financial debt of Rs. 68,48,63,360.22, arising from financial facilities originally sanctioned by ING Vysya Bank Limited (which later amalgamated with Kotak Mahindra Bank) to M/s Unity Infraprojects Limited (Principal Borrower), for which the Corporate Debtor acted as a Corporate Guarantor. The Principal Borrower's account was declared NPA on 30.06.2015, and the guarantee was invoked on 07.10.2019. The liability of the Corporate Debtor was subsequently adjudicated by the DRT-II, Delhi, which issued a judgment on