Online gaming platform WinZO has hit back at Paytm’s parent One97 Communications after the fintech firm moved the National Company Law Tribunal (NCLT) seeking to initiate insolvency proceedings over an alleged non-payment of ₹3.6 crore for advertising services.
Calling the move a “pressure tactic,” WinZO said it was “unfortunate” that Paytm had escalated what it described as a “routine commercial settlement” into an insolvency case.
“It is unfortunate that, after an eight-year partnership, Paytm has escalated a routine commercial settlement into an insolvency proceeding as a pressure tactic,” the company said in a statement to Storyboard18. “Such matters should be resolved through dialogue and due process, not by…