Zomato may face insolvency plea as creditor Nona Lifestyle moves to NCLT

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Zomato may face insolvency plea as creditor Nona Lifestyle moves to NCLT - Business Standard

Quick Summary:

Nona Lifestyle Pvt Ltd, an operational creditor, has moved NCLT requesting to restore an insolvency plea filed by it earlier against Zomato Ltd under Section 9 of the Insolvency & Bankruptcy Code in 2024.

Food delivery aggregator Zomato may face an insolvency plea as one of its operational creditors has moved the National Company Law Tribunal (NCLT), seeking restoration of its previous petition.

It has requested the Delhi-based NCLT bench "to admit the accompanying application and pass an order for initiating the CIRP against the Corporate Debtor (Zomato) here in under Section 9".