The Chandigarh Bench of the National Company Law Tribunal (NCLT) has issued notice to Gridlogic Games Private Limited on an insolvency application filed by PhonePe Limited over alleged unpaid dues of ₹3.93 crore for promotional services rendered on its platform. The order was passed by Judicial Member K. Biswal and Technical Member K.K. Singh. While…
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EXCLUSIVE: Elysian Film Group Distribution Limited, the distribution arm of Danny Perkins‘ UK film company, is being liquidated. Elysian Film Group Distribution, which launched in 2020 with backing from CAA, is now the subject of a formal insolvency process. Perkins’ production company, Elysian Film Group, will continue trading. FRP Advisory, a financial advisory firm, has…
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Multi-national companies continue to grow and expand their global networks, with subsidiaries, assets, creditors, and contracts spanning across multiple jurisdictions, and the need for a coherent legal process to coordinate insolvency proceedings across borders has grown correspondingly. A restructuring that might once have involved assets and creditors concentrated in one or two countries now routinely…
The National Company Law Tribunal at Bengaluru has issued notice to Flipkart Internet Private Limited on a plea filed by Applabs Media Private Limited seeking initiation of insolvency proceedings over an alleged operational debt of ₹1.69 crore. A coram of Judicial Member Mahendra Khandelwal and Technical Member Radhakrishna Sreepada passed the order. According to the…
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