E-commerce marketplace aggregator 10Club, which once raised one of India’s largest seed rounds, has failed to find a viable business model. The Fireside Venture-backed company now appears to be heading toward closure, as it has initiated insolvency proceedings before the National Company Law Tribunal (NCLT), Bengaluru Bench.
According to a company’s regulatory filing sourced from the Registrar of Companies (RoC), the shareholders of Boxseat Ventures Private Limited (10Club) have passed a special resolution to file for insolvency under Section 10 of the Insolvency and Bankruptcy Code, 2016.
According to the…
