Insolvency Guardian Media Centre
The National Company Law Tribunal (NCLT) has ruled in favour of food delivery giant Zomato, dismissing an insolvency plea filed by B2B apparel manufacturer Nona Lifestyle over alleged unpaid dues of Rs 1.64 crore, CNBC TV18 reported. The decision brings significant relief to Zomato, which was embroiled in a legal battle over non-payment claims linked to rider uniforms and ICC World Cup 2023 jerseys.
What is the Zomato dispute?
The dispute arose when Nona Lifestyle accused Zomato of defaulting on payments for uniforms supplied to its delivery partners. According to the supplier, it had fulfilled all contractual obligations, including the timely delivery of customised apparel. However, Zomato reportedly refused to accept certain…
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A Christchurch takeaway and restaurant business with sushi outlets under the Hachi Hachi brand has folded while owing staff holiday pay and a hefty tax bill.
The seven companies, owned by Hachi Hachi founders and directors Titi Khemarangsan and Bundit Kijpalakorn, were placed in voluntary liquidation on March 25.
Initial liquidator reports for the businesses amounted collectively to a total estimated shortfall of $2.54 million, including $1.37m owed to Inland Revenue (IRD) in income tax for employees’ wages (PAYE) and goods and service tax (GST).
This included nearly $130,000 in holiday pay owed to out-of-pocket staff.
The liquidator noted the IRD had begun recovery action with the directors placing the companies in voluntary…
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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…
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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.
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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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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Photo: Getty Images / Ian Forsyth
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…
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Hachi Hachi companies fold amid $2.5m hospo collapse The Press
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Fake Trustpilot reviews of FBA Brand Builder posted after controversial company is liquidated Belfast Telegraph