The Mumbai Bench of the National Company Law Tribunal (NCLT) has admitted a Section 9 insolvency application filed by One 97 Communication Limited holding that routine discussions regarding campaign performance and optimisation do not constitute a genuine pre-existing dispute capable of defeating an insolvency petition under the Insolvency andBankruptcy Code, 2016 (IBC).
One 97 Communication Limited engaged in digital advertising and payment solutions had provided in-app advertising services for Fabzen Technologies gaming applications, including Ludo Empire, Callbreak Empire and Skill Patti Empire.
The Operational Creditor contended that services were rendered pursuant to multiple purchase orders issued between…