Legal · Financial Services

NCLT admits insolvency petition against Fabzen for unpaid dues

By Startup Enthusiast · 22 June 2026

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The NCLT Mumbai admitted an insolvency petition filed by One97 against Fabzen Technologies for ₹3.41 crore in operational debt

The debt defaulted on 7 January 2025, and services included digital advertising and in-app promotions for gaming apps

The tribunal ruled the debt crystallised before the Online Gaming Act 2025, finding no bona fide dispute

The National Company Law Tribunal (NCLT) Mumbai admitted an insolvency petition filed by One97 Communication Limited against Fabzen Technologies.
One97 claimed an operational debt of ₹3.41 crore arising from unpaid invoices for digital advertising services.
The default date was recorded as 7 January 2025, when Fabzen failed to pay within the agreed credit period.
Fabzen argued that the Promotion and Regulation of Online Gaming Act 2025 voided their contract with One97.
The tribunal ruled that the debt crystallized before the Act's enactment in August 2025, dismissing the dispute.
Consequently, the NCLT commenced Corporate Insolvency Resolution Process (CIRP) and declared a moratorium under Section 14.
An Interim Resolution Professional (IRP), Manish Lalji Dawda, was appointed to manage Fabzen's affairs during the process.
The decision was delivered on 18 June 2026 by judges Shri Nilesh Sharma and Shri Sameer Kakar.

One97 provides digital advertising solutions including icon ads, banner ads, deals, and scratch cards.
These services are integrated into mobile applications, specifically targeting gaming apps like those of Fabzen.