Dream 11’s parent company challenges insolvency at the appellate court

Written by: Planify

Published: 14 February 2024

Updated: 06 March 2024

1 min read

Fantasy gaming company Dream 11's parent company Sporta Technologies Pvt Ltd, has lodged an appeal with the National Company Law Appellate (NCLAT) in Delhi against the National Company Law Tribunal (NCLT) Mumbai's recent order.

The order on Monday, by NCLT Mumbai accepted an insolvency petition against the fantasy gaming giant. The NCLAT Chairperson's court will hear the case on February 14.

The insolvency petition, initiated by the resolution professional of Reward Solutions, had in NCLT alleged that Sporta defaulted on dues amounting to ₹7.61 crore. NCLT's order appointed Madan Bajarang Lal Vaishnawa as the interim resolution professional to oversee the resolution process.

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