NCLT Dismisses Insolvency Plea Against Dunzo by Invoice Discounters

The National Company Law Tribunal (NCLT), Bengaluru, has dismissed an insolvency petition filed against Dunzo by its invoice discounters, ruling the plea as not maintainable.

The decision, delivered after multiple delays, provides temporary relief to the struggling quick commerce firm. Dunzo has faced multiple insolvency actions due to unpaid dues from several vendors, including Velvin Packaging and Betterplace Safety Solutions.

The company, grappling with a severe liquidity crunch, reported a ₹1,801 crore loss in FY23 and owes vendors like Google India and Facebook India a combined ₹11.4 crore.

The Tribunal has earlier criticized Dunzo for delaying its responses to legal notices.