Thrasio-Style 10Club Moves NCLT To Initiate Insolvency Proceedings

10Club’s board has given its nod to file insolvency application under Section 10 of the Insolvency and Bankruptcy Code, 2016

The startup said that the company’s assets are not sufficient to pay off the debts

Founded in 2020 by Bhavna Suresh, Joel Ayala and Deepak Nair, 10Club partners with ecommerce product sellers in India by acquiring their businesses

10Club is winding down its operations soon as the Thrasio-style startup has initiated insolvency proceedings before the national company law tribunal (NCLT).

As…