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HomeLawNCLT Mumbai admits insolvency plea against Dream 11

NCLT Mumbai admits insolvency plea against Dream 11

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

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