Mobility platform Rapido has filed an insolvency petition at the National Company Law Tribunal (NCLT) against hyperlocal e-commerce platform Magicpin. Consequently, the Chandigarh Bench of the NCLT issued a notice to Magicpin, asking the company to file its response. The dispute centres on operational dues claimed by Rapido.
However, the tribunal has not yet admitted the insolvency petition or determined the merits of the claim. Magicpin’s response and the subsequent hearing will be important in establishing how the matter proceeds.
Rapido and Magicpin had earlier partnered to expand Rapido’s food delivery business, Ownly, with Magicpin providing access to its nationwide network of more than 80,000 restaurants. The partnership aimed to help Ownly scale beyond Bengaluru, while Magicpin was to leverage Rapido’s delivery fleet in select locations. Notably, Magicpin has also previously powered food delivery for platforms including Paytm and PhonePe.
People aware of the matter said the amount involved is less than ₹10 crore and relates, among other things, to the reconciliation of payments as well as costs incurred by Rapido for deliveries and logistics.
Rapido, registered as Roppen Transportation Services Private Limited, has filed the petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, which allows an operational creditor to seek the initiation of a corporate insolvency resolution process in relation to an alleged default.
According to the case details provided, the tribunal issued its initial notice on August 4. At the subsequent hearing on August 25, the legal counsel representing Magicpin sought additional time to submit its response.
The two-member Bench, comprising K.K. Singh, Member (Technical), and Ashok Kumar Bhardwaj, Member (Judicial), granted Magicpin one week to file its response. The tribunal also directed that any rejoinder be filed before the next hearing, which is scheduled for October 5, 2026.
Rapido was represented at the August 25 hearing by advocates Gulshan Kr. Sachdev, Jatin Arora and Ishaan Goel. Magicpin was represented by advocates Prachi Johri, Monika Shahi, Sachin Jain and Himanshu Sharma.
