Cash Ur Drive Marketing Limited Approves Resolution Plan for Zyngo EV Mobility

Cash Ur Drive Marketing Limited Approves Resolution Plan for Zyngo EV Mobility​

Cash Ur Drive Marketing Limited, at its board meeting held on April 4, 2026, considered and approved submitting a Resolution Plan for Zyngo EV Mobility Private Limited, which is currently under the Corporate Insolvency Resolution Process (CIRP). The submission positions Cash Ur Drive Marketing Limited as the Resolution Applicant.

The board noted that the financial proposal contained within the Resolution Plan may undergo modifications or revisions during the resolution process, and any material changes to the key terms or consideration will require further board approval.

Details of the Target Entity​

Zyngo EV Mobility Private Limited operates in the last-mile logistics and EV mobility solutions sector, serving e-commerce and hyperlocal delivery platforms. As of the latest available financial statements for FY 2023-24, the company had an authorized share capital of ₹1.58 crore and a paid-up share capital of ₹1.35 crore. Its total assets were approximately ₹26-27 lakh, comprising both tangible and intangible assets.

The company's turnover for FY 2023-24 reached ₹15.03 Crores, while its net worth was recorded at ₹ -8.60 Crores. Furthermore, admitted liabilities stood at approximately ₹16.53 crore, reflecting established operational relationships with major e-commerce players and a significant vendor base.

Proposed Transaction Details​

The Resolution Plan is aimed at reviving Zyngo EV Mobility Private Limited as a going concern and expanding Cash Ur Drive Marketing Limited's presence within the EV mobility and last-mile logistics sector. The acquisition is expected to generate strategic and operational synergies with the company's existing sustainable transit and advertising business.

The board determined that the proposed transaction does not constitute a related party transaction, and the promoter group of Cash Ur Drive Marketing Limited has no stated interest in the Corporate Debtor.

Key financial aspects of the proposed resolution are detailed below:

Corporate Background and Financial History​

Zyngo EV Mobility Private Limited was incorporated on December 19, 2019, and is focused on EV-based logistics and last-mile delivery services, primarily serving e-commerce and hyperlocal delivery platforms. The company operates in India and relies on both owned and partner-driven delivery models.

The financial turnover history for the entity provides the following data:

Timeline and Approvals​

The completion of the acquisition is anticipated to occur within approximately three months from the Effective Date, defined as the date of NCLT approval, subject to the terms set forth in the Resolution Plan.

The successful execution of the acquisition is subject to the approval of both the Committee of Creditors (CoC) and the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016.

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