Food delivery giant Zomato is facing an insolvency plea filed by uniform supplier Nona Lifestyle, which claims the company has failed to clear dues amounting to ₹1.64 crore, reported Bar and Bench on Monday, March 17. The matter, heard by the National Company Law Tribunal (NCLT), has been adjourned to April 3 after the tribunal…
Ola Electric shares hit all-time low, end 7% down; firm loses Rs 1,601 cr m-cap Deccan Herald Read the original article here
The free fall in Ola Electric share price came after Rosmerta filed an insolvency petition against its subsidiary Ola Electric Technologies for allegedly defaulting on payment Shares of Ola Electric Mobility plummeted over 7% in the morning trade today to hit an all-time low at INR 46.94 apiece, dragged down by the company’s disclosure that…
As many as 40,943 applications were filed under the the Insolvency and Bankruptcy Code (IBC), of which 28,818 applications involving Rs 10 lakh crore were resolved even before admission, Union Minister of State for Corporate Affairs Harsh Malhotra said in Lok Sabha on Monday. He also said that the introduction of the IBC in 2016…
Ola Electric Shares Hit Record Low After Insolvency Petition Value Research Online Read the original article here
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Ola Electric hits 52-week low after arm faces insolvency petition over payment default Business Standard Read the original article here
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Nona Lifestyle entered into a business relationship with Zomato to supply uniforms for its employees and delivery partners, including merchandise for the ICC World Cup 2023. The company had planned a campaign during the World Cup. As per the petition, Zomato placed multiple orders for various apparel items, including rider t-shirts, trousers and World Cup…