The National Company Law Tribunal (NCLT), Chandigarh Bench, has admitted an insolvency petition filed by One97 Communications Ltd. (Paytm) under Section 9 of the Insolvency and Bankruptcy Code (IBC) against Eyemyeye Pvt. Ltd., over alleged default of ₹3.03 crore in operational dues.
The petition arose after Eyemyeye failed to clear invoices for digital advertising and promotional services availed from Paytm since April 2022. Despite reminders and recovery notices, only one payment of ₹17.55 lakh was made, leaving substantial dues unpaid. Paytm issued a statutory demand notice in July 2024, but no settlement materialised.
Proceedings before the Tribunal went ex parte as Eyemyeye did not appear despite service…