Honortech Universal Faces Insolvency Petition At NCLT
AdGlobal360 has filed an insolvency petition against Honortech Universal before the National Company Law Tribunal (NCLT), Allahabad Bench, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition cites unpaid dues of over Rs 2.65 crore for digital marketing services, including Google and Meta video promotions.
AdGlobal360 has filed an insolvency petition against Honortech Universal before the National Company Law Tribunal (NCLT), Allahabad Bench, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition cites unpaid dues of over Rs 2.65 crore for digital marketing services, including Google and Meta video promotions.
According to the petition, AdGlobal360 issued multiple invoices and sent legal notices seeking payment, but the dues remained unsettled. With no resolution in sight, the company has approached the tribunal for relief.
The case will now be reviewed by the NCLT, where Honortech Universal will have the opportunity to present its response. If admitted, the proceedings could impact the company’s financial standing. The outcome of this case may also set a precedent for payment disputes in the digital services industry.
Source : BW Online Bureau
Date : Mar 06, 2025
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