Shares of food delivery giant Zomato gained sharply during the trading session even as it may face an insolvency plea after one of its operational creditors moved the National Company Law Tribunal (NCLT).
It has come to light that Nona Lifestyle Private Limited has moved the law tribunal to restore an insolvency plea that it had filed earlier against Zomato under Section 9 of the Insolvency and Bankruptcy Code (IBC) in 2024.
Despite the insolvency plea, Zomato shares have not been impacted. In fact, they were trading 6.13% higher at Rs 216.35 on the Bombay Stock Exchange (BSE) at 2:42 pm. It had earlier reached an intraday high of Rs 216.50.
As far as the Zomato stock is concerned, it is up over 4% in the past five trading…
