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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The plea comes at a time when the company’s Thrasio-style business model is under pressure.
GlobalBees Brands, a subsidiary of omnichannel retailer FirstCry, is facing an insolvency petition at the National Company Law Tribunal (NCLT). The plea claims unpaid dues and seeks the recovery of Rs 64.92 crore, along with 18% annual interest, since 9 May.
The plea was filed by three individuals who are directors of Kuber Mart Industries, a home products company in which, according to FirstCry’s red herring prospectus from July 2024, GlobalBees had invested Rs 50 crore back in 2022. FirstCry’s parent company, Brainbees Solutions, acknowledged the petition in a regulatory filing and stated that its subsidiary is actively seeking legal …
The Walmart-owned e-commerce company has entered microdramas and food delivery. Is it thinking long-term or just chasing a trend?
Its acquisition of Kirana Club signals an attempt to find a new growth engine, but grocery retail has been a challenge for even well-funded players.
Despite a higher offer, creditors chose Gautam Adani’s Adani Enterprises—setting up a courtroom fight that raises questions over the bankruptcy resolution process’s priorities.
