The plea seeking insolvency was filed by Piyush Jani, resolution professional of Reward Solutions Pvt Ltd for an operational debt of ₹7,61,08,246.
Rewards Solutions entered into a lease and license agreement with Sporta on December 27, 2019 for a period of 5 years
Sporta allegedly did not pay rent right from the beginning and on April 20, 2021, Rewards Solution sent a demand notice to Sporta.
When Sporta failed to comply with the notice, the present petition came to be filed.
Source: Barandbench
