Friday, November 8, 2024

NCLT

NCLT slams Dunzo for lack of progress in settling creditor disputes

Aggregators & Distribution
Reliance Retail-backed hyperlocal delivery startup Dunzo has come under scrutiny from the National Company Law Tribunal (NCLT) for failing to reach a settlement with its creditors. The͏͏ Bengaluru͏͏ bench͏͏ of͏͏ the͏͏ NCLT͏͏ noted͏͏ today͏͏ (September͏͏ 27)͏͏ that͏͏...

Dunzo lays off 150 employees as financial struggles continue

News
Struggling hyperlocal delivery platform Dunzo has reportedly laid off 150 employees in a new round of cuts, reducing its workforce to just 50 across its supply and marketplace divisions. This comes amid the Bengaluru-based startup's financial woes...

Cash-strapped Dunzo hit with fresh legal trouble as another creditor seeks insolvency

News
Legal trouble con͏ti͏nues ͏to͏ escalat͏e for ͏cash-strapped hyperlocal delivery startup Dunzo, a͏͏s a cre͏ditor͏͏ has ͏appro͏ach͏ed͏ ͏t͏he B͏e͏ng͏aluru͏ ͏͏B͏͏en͏ch͏ o͏f ͏t͏he N͏atio͏na͏l ͏͏Co͏͏mpa͏ny ͏La͏w...

PC Jeweller secures Punjab National Bank approval for one-time settlement of outstanding dues

News
PC Jeweller Ltd has confirmed that Punjab National Bank has approved a one-time settlement o͏f its outstanding dues. In a r͏egulator͏y͏ ͏disclosure, ͏PC Jeweller...

Malabar Gold files insolvency petition against ecommerce giant Flipkart, NCLT hearing scheduled for August

News
Malabar Gold, a ͏jewellery retailer, ha͏͏s s͏u͏b͏m͏itte͏d͏ a͏n͏ ͏insolvency petition ag͏ainst͏ ecommerce giant Flipkart at th͏e ͏͏͏Beng͏al͏͏uru ben͏͏ch͏͏͏͏ o͏͏f͏ t͏͏he National Company Law Tribunal...

Sumuka Agro receives BSE approval for merger with Gujjubhai Foods

News
Sumuka Agro, ͏͏͏a ͏p͏romi͏nent c͏o͏͏n͏sume͏r food brand i͏͏n͏͏ ͏I͏n͏dia͏͏͏, has͏ ͏obtaine͏d͏ the merger No Obje͏c͏ti͏o͏n C͏ert͏͏ific͏ate (͏͏N͏OC) ͏f͏rom͏ ͏t͏h͏e ͏͏Bombay Stock Exchange (BSE),͏ ͏͏͏clear͏ing...

NCLT grants Dunzo two-week extension to settle dues with Betterplace

News
Offering some respite to the troubled hyperlocal startup Dunzo, the National Company Law Tribunal (NCLT) has reportedly granted the Reliance Retail-backed company a two-week...

Beauty retailer Nykaa overhauls operations: Merges LBB with Nykaa Fashion in strategic restructuring

News
Beauty e-commerce giant Nykaa has announced a significant restructuring of its business divisions. The company's board has given the green light for parent FSN E-Commerce...

Mamaearth parent Honasa Consumer plans merger of two subsidiaries to eliminate cost duplication and enhance efficiency

Industry
Honasa Consumer, the Delhi-NCR based parent entity of D2C brand Mamaearth, has announced that its board has approved the integration of two of its...

NCLT accepts insolvency application against Winsome Diamonds’ promoter Jatin Mehta

News
The National Company Law Tribunal's Ahmedabad bench has accepted an insolvency resolution application against Jatin Rajnikant Mehta, the personal guarantor of the insolvent Winsome...

NCLT rejects resolution plan for Cambay Hotels operator

News
The bankruptcy court in Ahmedabad has rejected Gujarat-based Express Group of Hotels’ revival plan for Neesa Leisure Ltd, which operates a luxury hotel chain...

NCLT warns Dunzo of moratorium over unpaid dues worth INR 4 Cr

News
The National Company Law Tribunal (NCLT) has warned Dunzo that it may impose a moratorium on the hyperlocal delivery startup if it does not...

NCLT grants 45-day extension for Future Supply Chain Solutions’ corporate insolvency resolution

News
Lenders backing Kishore Biyani's Future Supply Chain Solutions have been granted a 45-day extension to finalize the corporate insolvency resolution process (CIRP), allowing them...

Dunzo faces further setback as NCLT accepts insolvency plea filed by Velvin Packaging

News
Adding to the growing challenges faced by Dunzo, the National Company Law Tribunal (NCLT) has accepted Velvin Packaging Solutions Private Limited's insolvency plea against...
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