New Delhi, Mar 17 (PTI) Food delivery aggregator Zomato may face an insolvency plea as one of its operational creditors has moved the National Company Law Tribunal (NCLT), seeking restoration of its previous petition.
Nona Lifestyle Pvt Ltd, an operational creditor, has moved NCLT requesting to restore an insolvency plea filed by it earlier against Zomato Ltd under Section 9 of the Insolvency & Bankruptcy Code in 2024.
In 2024, NCLT had dismissed it due to non-prosecution and now Nona Lifestyle has requested to restore its old petition.
It has filed an application under Rule 11 of NCLT Rules, 2016, which provides the tribunal inherent power that can also be used for restoration purposes.
It has requested…
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
