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The National Company Law Tribunal (NCLT) has refused to initiate insolvency proceedings against Zomato, bringing relief to the food delivery
Nona Lifestyle had entered into a business relationship with Zomato to supply uniforms for its employees and delivery partners, including
The National Company Law Tribunal (NCLT) Delhi on Thursday dismissed an insolvency plea filed against food delivery giant Zomato by
Share on:  04/03/2025 10:20 The risk of insolvency was the highest in the transport and logistics sector in 2024 The
Ishita Sharan, legal head of the NARCL, India’s ‘bad bank’, sheds light on mounting insolvency challenges and the critical role
Liquidation report reveals how many millions owed by The Body Shop  Stuff Read the original article here
File pic Photo: Getty Images / Ian Forsyth The Body Shop NZ has been placed into liquidation The closure of
Hachi Hachi companies fold amid $2.5m hospo collapse  The Press Read the original article here
Fake Trustpilot reviews of FBA Brand Builder posted after controversial company is liquidated  Belfast Telegraph Read the original article here
QUANTRON explores opportunities to successfully continue business operations Provisional insolvency administrator examines chances of continuing business operations of Quantron AG
Government has Strengthened IBC with Six Amendments and 122 Regulatory reforms since its inception Over 8,000 CIRPs initiated, rescuing
Bankruptcy is a legal process that allows individuals and businesses to resolve outstanding debts owed to creditors while offering them

The National Company Law Tribunal (NCLT) has refused to initiate insolvency proceedings against Zomato, bringing relief to the food delivery giant amid a legal dispute over alleged unpaid dues of ₹1.64 crore.

The petition was filed by Nona Lifestyle, a B2B apparel manufacturer, which claimed that Zomato failed to pay for rider uniforms and merchandise, including jerseys for the ICC World Cup 2023. According to Nona Lifestyle, the company fulfilled its contractual obligations but faced payment delays, refusals of delivery over storage concerns, and pressure from Zomato to offer discounts.

Zomato has denied the allegations, maintaining that payments were made for all uniforms supplied within the agreed timeframe. It further claimed that…

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Nona Lifestyle had entered into a business relationship with Zomato to supply uniforms for its employees and delivery partners, including merchandise for the ICC World Cup 2023. The company had planned a campaign during the World Cup. 

As per the petition, Zomato placed multiple orders for various apparel items, including rider t-shirts, trousers and World Cup jerseys, throughout 2023. Nona Lifestyle claimed that it fulfilled its obligations by manufacturing and delivering the ordered goods in part.

However, the company alleged that Zomato consistently delayed payments and failed to take delivery of substantial portions of the ordered products.

According to Nona, Zomato repeatedly delayed payments, returned deliveries citing lack of…

Read the original article here

The National Company Law Tribunal (NCLT) Delhi on Thursday dismissed an insolvency plea filed against food delivery giant Zomato by uniform supplier Nona Lifestyle over an alleged payment default of 1.64 crore.

The tribunal rejected the petition on maintainability grounds, citing drafting errors, and refused the operational creditor’s request to allow its restoration.

Read this | Data dive: What Eternal aka Zomato got right in the last two years

Business-to-business (B2B) apparel manufacturer Nona Lifestyle sought to initiate a Corporate Insolvency Resolution Process (CIRP) against Zomato, claiming non-payment for uniforms and merchandise, including ICC World Cup 2023 apparel.

According to Nona Lifestyle, Zomato placed multiple orders…

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04/03/2025 10:20

The risk of insolvency was the highest in the transport and logistics sector in 2024


The risk of insolvency was highest in the transport and logistics sector last year, with 14 out of every 1,000 companies liable for VAT filing for bankruptcy in 2024. But even in sectors that were hardly at risk of insolvency five years ago, such as health and social services, real…

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India's Evolving Insolvency FrameworkIndia's Evolving Insolvency Framework

Ishita Sharan, legal head of the NARCL, India’s ‘bad bank’, sheds light on mounting insolvency challenges and the critical role of the bank in tackling stressed assets. Indrajit Basu reports

The report also indicates that 1,983 bankruptcy cases remain active within the corporate insolvency resolution process (CIRP) framework.

After creditors assess the recovery potential and pursue a resolution plan for a bankruptcy event, India’s insolvency procedure begins with one of two key processes: (1) a CIRP, which may lead to revival or liquidation; or (2) a pre-packaged insolvency resolution process, which seeks resolution but is not guaranteed to succeed.

“However, while the recent IBBI report indicates a positive…

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Liquidation report reveals how many millions owed by The Body Shop  Stuff

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MIDDLESBROUGH, ENGLAND - MARCH 11: A general view of the Body Shop in Middlesbrough high street on March 11, 2024 in Middlesbrough, England. UK High Streets are suffering further losses this year as the Body Shop became the latest retail business to announce store closures in 75 locations. 4415 retail businesses disappeared from the High Street last year due to higher running costs, lack of staff and cost of living crisis affecting customer spending power. The British Retail Consortium say although

File pic
Photo: Getty Images / Ian Forsyth

  • The Body Shop NZ has been placed into liquidation
  • The closure of the beauty brand’s NZ business was signalled in January
  • The company thanked customers for its “support throughout the years”
    • The Body Shop New Zealand has been placed into liquidation, with all stores closed and around 70 jobs lost.

      A notice in the New Zealand Gazette confirmed liquidation of the company began on Thursday, with Neale Jackson and Daniel Stoneman of Calibre Partners appointed as liquidators.

      A message on the beauty retailer’s website confirmed all retail locations were now permanently shut, and the online store was no longer processing orders.

      “We extend our heartfelt gratitude to our valued…

    Read the original article here

    Hachi Hachi companies fold amid $2.5m hospo collapse  The Press

    Read the original article here

    Fake Trustpilot reviews of FBA Brand Builder posted after controversial company is liquidated  Belfast Telegraph

    Read the original article here

    QUANTRON explores opportunities to successfully continue business operations

    Provisional insolvency administrator examines chances of continuing business operations of Quantron AG

    • QUANTRON explores opportunities to successfully continue business operations
    • Preliminary insolvency proceedings launched to continue Quantron AG operations with BBL Brockdorff receiving mandate to structure further business activities
    • Denis Muratov becomes Chairman of the Supervisory Board and manages activities as interim CEO

    Quantron AG, as platform provider of sustainable battery-electric and hydrogen-electric mobility for trucks and buses, has been in provisional insolvency proceedings since this week. The Augsburg…

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    Government has Strengthened IBC with Six Amendments and 122 Regulatory reforms since its inception

    Over 8,000 CIRPs initiated, rescuing 3,485 debtors and realization of ₹3.58 lakh crore

    The legislative intent of the Insolvency and Bankruptcy Code, 2016 (IBC) is to provide a consolidated framework for reorganization, insolvency resolution and liquidation of corporate persons, partnership firms and individuals for maximization of the value of assets. Further, IBC has had a significant impact on the health of the country’s banking sector and redefined the debtor creditor relationship.

    According to the RBI Report on Trend and Progress of Banking in India (December 2024), the IBC emerged as the dominant recovery route,…

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    Bankruptcy is a legal process that allows individuals and businesses to resolve outstanding debts owed to creditors while offering them some protection during the process. There are restrictions on the types of bankruptcy you’re allowed to file. How you file depends on whether you are an individual or a business, your level of income, and the kind of debt you have.

    Overview of bankruptcy

    The purpose of bankruptcy is two-fold. First, it assists creditors in dealing with an insolvent debtor. Second, it allows individuals and businesses a chance to start fresh after a financial downfall. Bankruptcy can also preserve a business’s assets…

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