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 issuing notice and granting Gridlogic three days to file its reply, the bench declined a request for any further extension of time.
In doing so, the Tribunal referred to the Insolvency and Bankruptcy Code (Amendment) Act, 2026, which has tightened timelines under the insolvency framework. Among other changes, applications seeking initiation of corporate insolvency resolution proceedings…