The Economic Times

NCLAT dismisses Affle 3i's plea against insolvency of Talent Unlimited Online Services

NCLAT has dismissed an appeal by Affle 3i Ltd concerning insolvency proceedings against Talent Unlimited Online Services Pvt Ltd. The dismissal means that Affle 3i can file a new allegation of fraudulent initiation of the insolvency process. The NCLT had already initiated corporate insolvency resolution proceedings based on a Section 7 application. Affle 3i argued that the proceedings were initiated fraudulently, but NCLAT found no substantial evidence.