Kotak Mahindra Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kamdhenu Steels and Alloys Limited, claiming a default of Rs. 9,44,95,594.97 as of 20.02.2025.
Kotak Mahindra Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Kamdhenu Steels and Alloys Limited.
The claimed default amount was Rs. 9,44,95,594.97 as of 20.02.2025.
Kamdhenu Steels and Alloys Limited was incorporated on 23.12.2002.
The Corporate Debtor argued that the loan transaction was vitiated due to collusion between the Financial Creditor and Yes Bank.
The Corporate Debtor alleged that the Financial Creditor permitted the transfer of mortgaged property to third parties.
The Corporate Debtor claimed that Ashiana Ispat Ltd. made part payments of approximately ₹1.14 crore.
The Financial Creditor issued a Loan Recall Notice dated 14.01.2025.
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Kotak Mahindra Bank…
The date on which the default occurred is…
Kotak Mahindra Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kamdhenu Steels and Alloys Limited, claiming a default of Rs. 9,44,95,594.97 as of 20.02.2025.
Kotak Mahindra Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Kamdhenu Steels and Alloys Limited.
The claimed default amount was Rs. 9,44,95,594.97 as of 20.02.2025.
Kamdhenu Steels and Alloys Limited was incorporated on 23.12.2002.
The Corporate Debtor argued that the loan transaction was vitiated due to collusion between the Financial Creditor and Yes Bank.
The Corporate Debtor alleged that the Financial Creditor permitted the transfer of mortgaged property to third parties.
The Corporate Debtor claimed that Ashiana Ispat Ltd. made part payments of approximately ₹1.14 crore.
The Financial Creditor issued a Loan Recall Notice dated 14.01.2025.
…Kotak Mahindra Bank…
The date on which the default occurred is…