NCLT Sends Log9 Into Insolvency After INR 6.7 Cr Default

Bengaluru bench of the National Company Law Tribunal (NCLT) has admitted battery tech startup Log9 Materials and its subsidiary Log9 Mobility into insolvency

The Tribunal approved a plea filed by Mumbai-based Ghalla & Bhansali Securities, which had provided loans to both companies

The creditor said Log9 Materials defaulted on more than INR 3.33 Cr and Log9 Mobility on more than INR 3.39 Cr

The Bengaluru bench of the National Company Law Tribunal (NCLT) has admitted…