The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted Sporta Technologies, which owns Indias largest fantasy sports platform Dream11, under the corporate insolvency resolution process (CIRP) on an application filed by the resolution professional of Reward Solutions.
The tribunal appointed Madan Bajrang Lal Vaishnawa as the interim resolution professional to conduct the insolvency resolution process.
Piyush Jani, the resolution professional for Reward Solutions, had approached the NCLT to initiate insolvency proceedings against Sporta after the company defaulted on its dues of about Rs 7.61 crore.
Incidentally, Reward Solutions has also been admitted under the CIRP by the NCLT.
The corporate debtor (Sporta Technologies), i…
Read the full article at: https://m.economictimes.com/industry/media/entertainment/nclt-admits-insolvency-resolution-plea-against-dream11-sports-platforms-owner-sporta-technologies/articleshow/107637981.cms