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
Comments