In an unexpected twist, companies are increasingly finding themselves entangled in legal disputes with their vendors. Suppliers and vendors are turning to insolvency petitions over payment delays as a legal tool to recover dues.
This comes at a time when companies like Zomato and Ola Electric have been served insolvency petitions by its vendors.
According to news report, B2B apparel manufacturer Nona Lifestyle has approached the NCLT to initiate the corporate insolvency resolution process (CIRP) against Zomato over alleged non-payment of ₹1.64 crore for supplied uniforms and merchandise, including ICC World Cup 2023 apparel.
Ola Electric is facing a financial dispute after Rosemerta Digital, and Rosemerta Safety Systems filed an…
