The Bengaluru bench of the National Company Law Tribunal (NCLT) has sent Flipkart under insolvency proceedings for a payments default of Rs 26.95 crore to one of its creditors. CloudWalker, which imported and retailed LED TVs on Flipkart's platform, dragged the company to the NCLT in July earlier this year for non-payment towards procured imported TVs as per the supply agreement.

For more, click here.