Affle 3I Ltd: Supreme Court Stays CIRP Proceedings for Bobble

Affle 3I Ltd has announced that the Hon'ble Supreme Court of India has granted a stay on the Corporate Insolvency Resolution Process (CIRP) proceedings concerning its investment in Talent Unlimited Online Services Private Limited (Bobble). This stay relates to Note 7 in the company's Q1 FY2027 Consolidated Financial Results, which had indicated that the carrying value of the investment was subject to the outcome of an appeal in the National Company Law Appellate Tribunal (NCALT). The company is optimistic that the CIRP, which it considers wrongfully initiated, will be set aside following the Supreme Court hearing.