The Ahmedabad Bench of the National Company Law Tribunal (NCLT) admitted a Section 9 petition filed by Lepton Software Export and Research Private Limited and initiated the Corporate Insolvency Resolution Process (CIRP) against Blu-Smart Mobility Tech Private Limited after finding that the default in payment of operational dues was clearly established and above the threshold under Section 4 of the Insolvency and Bankruptcy Code, 2016.
Lepton Software, the operational creditor, had provided Google Maps Platform services to Blu-Smart Mobility Tech under agreements valid until 30 September 2024. The company continued to use the services even after expiry without renewal, leading to an outstanding amount of Rs. 5.84 crore….