Rapido Takes Magicpin to NCLT Over Unpaid Dues; Tribunal Seeks Reply to Insolvency Plea
Magicpin sought additional time to respond to Rapido’s petition; matter listed for October 5
New Delhi, September 18, 2026: Retail rewards platform Magicpin, operated by Samast Technologies Private Limited, is facing an insolvency petition filed by mobility platform Rapido over alleged unpaid operational dues. The National Company Law Tribunal (NCLT), Chandigarh Bench, has issued notice in the matter and granted Magicpin time to file its response.
Rapido, registered as Roppen Transportation Services Private Limited, 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, legal counsel representing Magicpin appeared before the bench and sought additional time to submit the company’s reply.
The two-member bench, comprising Shri K.K. Singh, Member (Technical), and Shri 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, 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.
The dispute centres on operational dues claimed by Rapido. The tribunal has not yet been shown to have 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.
The case brings a commercial payment dispute between two technology platforms before the insolvency tribunal, with the next hearing scheduled for October 5.
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