The National Company Law Tribunal (NCLT), New Delhi Bench (Court-VI), has admitted an insolvency petition against M/s Pashupati Dairies Private Limited, initiating the Corporate Insolvency Resolution Process (CIRP) on May 19, 2025. The petition, filed by Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeks to recover a default amount of over Rs. 472 crore.
Bank of India, the financial creditor, stated that Pashupati Dairies Private Limited acted as a corporate guarantor for Kwality Limited (the Principal Borrower). Kwality Limited’s account was classified as a Non-Performing Asset (NPA) on August 31, 2018, and the guarantee provided by Pashupati Dairies was invoked on February 20, 2019, through…
