Rapido files insolvency plea against Magicpin over unpaid dues

Rapido has filed an insolvency petition against Magicpin at the National Company Law Tribunal (NCLT) over alleged unpaid operational dues of less than Rs 10 crore.

The Chandigarh Bench of the NCLT has issued a notice to Magicpin. The tribunal has not yet admitted the petition or decided on the merits of Rapido's claim.

Rapido Magicpin dispute

The dispute relates to payments, reconciliation and delivery and logistics costs, according to people aware of the matter.

Rapido, through Roppen Transportation Services Private Limited, filed the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016.

Rapido and Magicpin partnership

Rapido and Magicpin had partnered to expand Rapido's food delivery business, Ownly.

Magicpin provided access to its network of more than 80,000 restaurants, while Rapido's delivery fleet was to support operations in selected locations.

NCLT hearing and next steps

The tribunal issued its initial notice on August 4. At the August 25 hearing, Magicpin sought additional time to file its response.

The NCLT granted Magicpin one week to respond. The next hearing is scheduled for October 5, 2026.

What happens next?

Magicpin's response and the tribunal's subsequent proceedings will determine how the insolvency petition moves forward.

For now, the petition remains an allegation of operational default and has not been admitted by the NCLT.

Why did Rapido file an insolvency petition against Magicpin?

Rapido alleged that Magicpin had unpaid operational dues of less than Rs 10 crore.

What is the Rapido-Magicpin dispute?

The dispute involves payment reconciliation, delivery expenses and logistics costs.

How much money is involved in the Rapido Magicpin case?

The amount involved is reportedly less than Rs 10 crore.

Has the NCLT admitted Rapido's insolvency petition?

No. The NCLT has issued a notice but has not admitted the petition.

When is the next Rapido Magicpin NCLT hearing?

The next hearing is scheduled for October 5, 2026.

What is the dispute between Rapido and Magicpin about?

It concerns alleged unpaid dues related to payments, deliveries and logistics services.

What is Section 9 of the Insolvency and Bankruptcy Code?

Section 9 allows an operational creditor to seek insolvency proceedings against a company over an alleged payment default.

What is the connection between Rapido, Magicpin and Ownly?

Magicpin partnered with Rapido to support Ownly's food delivery expansion through its restaurant network.

What happens after the NCLT issues notice?

The respondent can file a response before the tribunal reviews the case further.

Has Magicpin responded to Rapido's insolvency petition?

Magicpin sought additional time to file its response during the August 25 hearing.

What are the next steps in the Rapido Magicpin case?

Magicpin's response and the October 5 hearing will determine how the case proceeds.