India, May 28 -- In a big relief to the hyperlocal delivery startup Dunzo, the Bengaluru bench of National Company Law Tribunal (NCLT) has reportedly dismissed an insolvency plea against the startup filed last year by one of its creditors - Invoice Discounters of Dunzo Digital Pvt Ltd.

A Mint report said that an NCLT bench led by Justices Sunil Kumar Aggarwal and Radha Krishna Sreepada held that the insolvency petition was not maintainable and dismissed it.

According to an order dated May 29, 2024, Dunzo and its financial creditor Invoice Discounters of Dunzo Digital Pvt Ltd had sought more time before the bench as settlement talks were underway between the parties. The bench also directed Dunzo to file a reply to the writ petition with...