Udaan faces insolvency proceedings in Singapore following ₹1,600-crore default
According to an ET report, the Singapore-based parent company of the B2B ecommerce platform Udaan—formerly India's quickest unicorn—is dealing with insolvency after missing payments on a ₹1,600-crore loan. An official liquidator has been named because the company and its lenders could not agree on the initial payment terms for a debt restructuring plan. Udaan has clarified that its business activities within India remain unchanged.
by shortkt.com✓