NCLT admits insolvency plea by Kotak Mahindra Bank against Unity Realty
The National Company Law Tribunal admitted Kotak Mahindra Bank's insolvency petition against Unity Realty for a default of ₹68.49 crore. The Mumbai bench's order allows initiation of the corporate insolvency resolution process, with September 23, 2023, marked as the date of default. Unity Realty's objections were dismissed, affirming the bank's right to proceed with the case.