Shares of Zomato jumped 6% during the intraday trade on Tuesday, March 18, though the food delivery aggregator 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.
However, market investors were not impacted following this development. At 12:14 PM, shares of Zomato were trading 4.77% higher at ₹213.41 apiece on the National Stock Exchange. Its market capitalisation stood at ₹775.23 crore.
In 2024, NCLT had dismissed it due…
