Goli Vada Pav
The National Company Law Tribunal (NCLT) has admitted Mumbai-based fast-food restaurant chain Goli Vada Pav Private Limited to the corporate insolvency resolution process following its alleged failure to pay a debt of Rs 3.56 crore.
The Mumbai bench of NCLT passed the order on September 5 on a plea of Vista Processed Foods Pvt Ltd, which alleged that Goli Vada Pav failed to make a payment of Rs 3.56 crore. Vista told the tribunal that in 2020, 2021 and 2022, the fast-food chain provided signed balance confirmations, admitting and acknowledging the existence of undisputed debt.
According to Vista, Goli Vada Pav did not pay the debt despite repeated reminders.
Goli Vada Pav argued that the plea was barred by limitation as…
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