NCLT orders plea against Flipkart for non-payment of dues
By MYBRANDBOOK
A corporate insolvency process has been ordered against Walmart controlled online retailer Flipkart for non-payment of the Rs 26.95 crore of dues to Mumbai based LED TV supplier CloudWalker Streaming Technologies Private Ltd. A single judge bench of the Bengaluru National Company Law Tribunal (NCLT) has ordered the process after a petition was filed by the Mumbai based company.
The single judge bench of Rajeswara Rao Vittanala said that Flipkart has committed default by the non payment of dues despite repeated requests from CloudWalker. The order was uploaded on the NCLT website on Tuesday.
Vittanala appointed Deepak Saruparia as the resolution professional in the case.
In response to a query, Flipkart said the Karnataka High Court had already stayed the NCLT order. “Karnataka High Court has stayed the order of the NCLT in favour of Flipkart. This is an ongoing commercial litigation which we are challenging. At this stage, we have no further comments,” a Flipkart spokesperson said.
Flipkart however did not reveal the date of the High Court order.
Adani Ports to acquire 95% of the Gopalpur Port in Odisha
For ₹13.49 billion, Adani Ports would purchase a 95% ownership in Gopal...
Zoom introduces Workplace to provide AI support during meeting
Zoom Video Communications has announced Zoom Workplace, its AI-powered, op...
22 startups valued above ₹10,000 cr are being run by former
According to Private Circle, around 22 firms founded by former Paytm employ...
Tech Mahindra and IBM to accelerate digital adoption in APAC
Tech Mahindra has announced the opening of a Synergy Lounge, in collabora...
AMARA RAJA POWER SYSTEMS LTD.
JUVAS SOLUTIONS PVT. LTD.
OPTIEMUS INFRACOM
DELL TECHNOLOGIES INDIA PVT. LTD.
Technology Icons Of India 2023: Dilip Asbe
Dilip Asbe is the MD & CEO of National Payments Corporation of India (...
Technology Icons Of India 2023: Sunil Gupta
Sunil Gupta is the Co-founder, Managing Partner & CEO of Yotta Infrast...
Technology Icons Of India 2023: Lt Gen (Dr.) Rajesh Pant (Retd.)
LT Gen(Dr.) Rajesh Panth (Retd.), National cyber security coordination...
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
C-DAC keeps India ahead in IT & Electronics R&D space
Centre for Development of Advanced Computing (C-DAC) is the premier R&...
BSE provides highly secure, efficient and transparent market for trading
BSE (formerly known as Bombay Stock Exchange Ltd.) is Asia's first & t...
SAVEX TECHNOLOGIES PVT. LTD.
Savex Technologies is the 3rd largest Information & Communication Tec...
FORTUNE MARKETING PVT. LTD.
Delhi based Fortune Marketing, An ISO 9001:2008 company, distributes ...
ADITYA INFOTECH LTD.
Aditya Infotech Ltd. (AIL) – the technology arm of Aditya Group, is ...