NCLT Admits Kotak Mahindra Bank’s Insolvency Plea Against Unity Realty
The National Company Law Tribunal has admitted Kotak Mahindra Bank’s insolvency petition against Unity Realty and Developers over an alleged default of ₹68.49 crore, marking a significant escalation in a dispute linked to financial stress at Unity Infraprojects. The case underscores how corporate guarantees can pull related entities into insolvency proceedings when underlying borrowings sour. The default is said to date back to September 2023.
