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Relief For Zomato As NCLT Dismisses Insolvency Plea

Summary by Inc42 Media

In a relief to Zomato, the National Company Law Tribunal (NCLT) has reportedly dismissed an insolvency plea filed against the foodtech major by B2B manufacturer Nona Lifestyle over alleged unpaid dues of INR 1.64 Cr. A Bar and Bench report said that a coram of judicial member Ashok Kumar Bharadwaj and Technical Member Reena Sinha Puri dismissed the petition by Nona Lifestyle today (On March 03), seeking restoration of an insolvency plea filed by…

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StartupTalky

Zomato's Relief After NCLT Rejects Insolvency Petition Regarding Alleged Unpaid Debts

According to reports, the National Company Law Tribunal (NCLT) has granted Zomato relief. NCLT rejected an insolvency petition brought by B2B maker Nona Lifestyle against the foodtech giant for an alleged INR 1.64 Cr in unpaid debts. According to a media report, a panel consisting of Technical Member Reena Sinha Puri and Judicial Member Ashok Kumar Bharadwaj denied Nona Lifestyle's petition on March 3 to reinstate an insolvency claim that the co…

24 hours ago

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THE NEW INDIAN

NCLT Rejects Insolvency Plea Against Zomato Over Payment Dispute THE NEW INDIAN

New Delhi: The National Company Law Tribunal (NCLT) has dismissed a petition seeking to initiate insolvency proceedings against food delivery giant Zomato for alleged non-payment of dues. The plea, filed by B2B apparel manufacturer Nona Lifestyle, was rejected on grounds of being “not maintainable.” Background of the Dispute Nona Lifestyle had supplied uniforms and merchandise, including ICC World Cup 2023 jerseys, for Zomato’s employees and del…

1 day ago

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