The counsel appearing for the co-founder and COO of Dream11, Bhavit Seth, had requested that no further steps be taken in the insolvency resolution professional, as any action will adversely affect the company which is preparing for the upcoming IPL season.
On Tuesday, Sporta Technologies, the parent company of Dream11, lodged an appeal with the National Company Law Appellate Tribunal (NCLAT) in Delhi, challenging the National Company Law Tribunal (NCLT) Mumbai s recent decision to accept an insolvency petition. The insolvency petition, filed by Reward Solutions resolution professional, alleged that Sporta Technologies defaulted on dues amounting to Rs 7.61 crore. I
With the increasing number of users on the Dream11 platform, the company achieved several other milestones. In 2020, it secured the sponsorship rights for the IPL, and currently, it holds the sponsorship for the Indian cricket team jersey as well.
Dream11, a fantasy sports platform, has introduced the "Dream11 Unplug" policy for all its employees to help them relax, rewind and rejuvenate on their leave days.