NCLT dismisses insolvency plea by invoice discounters against Dunzo

NCLT dismisses insolvency plea against Dunzo by invoice discounters, ruling operational debt claims unsustainable. The National Company Law Tribunal (NCLT) has dismissed an insolvency petition filed against the quick commerce platform Dunzo by multiple invoice discounting platforms. The NCLT ruled that the claims made by these invoice discounters did not qualify as "operational debt" under the Insolvency and Bankruptcy Code (IBC) in this specific context, making the insolvency petition unsustainable. This decision provides clarity on the classification of certain financial arrangements within insolvency law and offers a significant reprieve for Dunzo from immediate insolvency proceedings.