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AgriTech

WayCool Foods faces NCLT heat amidst mounting debt and auditor resignation

Parvathi Benu

April 04, 2025 | 5 Min Read

April 04, 2025 | 5 Min Read

WayCool director Vinod Dasari and Kushal Finnovation are among the petitioners dragging the once-promising agritech firm in front of the NCLT over loan repayments. MCA filings show WayCool has over Rs 450 crore in outstanding loans, and its last auditor resigned over unpaid dues and cost overruns.

April could be the beginning of the end for WayCool Foods, the agritech firm once tipped to be India’s first agritech unicorn. On April 28, the National Company Law Tribunal’s (NCLT) Chennai bench will hear three separate petitions against the company. One of these petitions has been filed by Vinod Dasari, a director in the company, while a second has been filed by agri fintech startup Kushal Finnovation Capital Pvt Ltd.

Kushal Finnovation’s petition before the NCLT indicates the existence of a third case against the company, but The CapTable couldn’t ascertain the details of the case, and WayCool did not respond to a detailed questionnaire.

Chennai-based WayCool is yet to file its financial statements for the year ended in March 2024 (FY24). Filings with the Ministry of Corporate Affairs show that its former auditor, KPMG India, resigned in September 2024, citing cost overruns and non-payment of fees. A filing about appointing a new auditor was made in March 2025.

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