PhonePe Limited filed a Section 9 insolvency application against Gridlogic Games Private Limited with the NCLT Chandigarh Bench.
Gridlogic Games cited unforeseen legislative changes in the online gaming sector as the reason for its inability to pay debts.
The NCLT directed Gridlogic Games to file its reply to the application within three days, with the next hearing set for June 12, 2026.