Paytm has filed an insolvency plea against online gaming platform WinZO before the NCLT, alleging non-payment of Rs 3.6 crore for ad services. WinZO claims the invoices were “not validated,” while Paytm calls it a “sham defence.”
NCLAT Chennai today has approved Byju’s settlement with BCCI, halting insolvency proceedings against the edtech firm. Repayment source was confirmed, safeguarding financial creditors’ interests. The tribunal criticized unnecessary complexity and stressed the importance of settlement. With this decision, insolvency proceedings against Think and Learn will cease, and the firm will not form a Company of Creditors.
