Malabar Gold initiates insolvency against Flipkart: Reports

Malabar Gold has started insolvency proceedings against Walmart-owned Flipkart Internet at the National Company Law Tribunal (NCLT) in Bengaluru, reports said. During the latest hearing on July 3, the Flipkart counsel sought additional time to submit objections in connection with the case. Malabar had filed the case in February and the tribunal had admitted the plea in April.