Dunzo In Insolvency Soup Again As Another Creditor Files IBC Application

Legal troubles mounted for cash-strapped hyperlocal delivery startup Dunzo

this week as another of its creditors moved the Bengaluru Bench of the National Company Law Tribunal seeking initiation of insolvency proceedings against the company👇

Dunzo’s creditor Invoice Discounters of Dunzo Digital filed an interlocutory application under section of Insolvency and Bankruptcy Code, 2016, alleging that the Reliance Retail-backed startup has only cleared half of the dues it owes.

According to the report, the lawyer representing Dunzo argued before the NCLT that settlement talks between both parties were underway and sought two weeks to reach an agreement.

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Credit - Inc42 Media