Bobble AI faces insolvency proceedings over Rs 5.77 crore dues
Bobble AI raised Rs 25 crore through secured debentures in March 2023
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Published: Aug 19, 2026 6:36 PM | 1 min read
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- Bobble AI has entered insolvency proceedings after the National Company Law Tribunal (NCLT) admitted a plea against its parent company, Talent Unlimited Online Services.
- The NCLT initiated the Corporate Insolvency Resolution Process (CIRP) on June 12, following a petition filed by Axis Trustee Services on behalf of investors.
- Manish Agarwal has been appointed as the Interim Resolution Professional, and a moratorium has been imposed on Bobble AI, restricting legal actions and asset sales.
- The company defaulted on repayments totaling approximately Rs 5.77 crore, with discussions with lenders ongoing, although the tribunal noted Bobble AI's prior acknowledgment of the debt.
Bobble AI has entered insolvency proceedings after the National Company Law Tribunal (NCLT), New Delhi, admitted a plea against its parent entity, Talent Unlimited Online Services, according to latest reports.
In its June 12 order, the NCLT initiated the Corporate Insolvency Resolution Process (CIRP). The petition was filed by Axis Trustee Services on behalf of a group of investors for whom it acted as debenture trustee.
Manish Agarwal has been appointed as the Interim Resolution Professional, while the tribunal has also imposed a moratorium on Bobble AI. This temporarily restricts legal proceedings, asset sales and recovery actions against Bobble AI.
Bobble AI raised Rs 25 crore through secured debentures in March 2023, according to regulatory filings. The company defaulted on repayments from August 2025, with dues including interest totalling around Rs 5.77 crore.
The company said talks with lenders were still underway and argued that the default should not be treated as final. The tribunal disagreed, pointing to emails in which Bobble AI had acknowledged the debt and default.
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