The National Company Law Appellate Tribunal grants relief to Sporta Technologies, the parent company of Dream11, from the insolvency resolution process. Learn more about the case and the implications of Section 10A of the Insolvency and Bankruptcy Code, 2016.
NCLAT reserved judgment on Bhavit Sheth s plea against Sporta Technologies. RP argued 10A applies to default, not debt claim ability. Default for Section 9 application is 10 days post demand notice.
NCLAT ordered the IRP of Sporta Technologies, operator of Dream 11, to maintain the company as a going concern, halting insolvency steps during the CIRP stay by NCLT Mumbai bench, after an urgent plea by Dream11 COO Bhavit Sheth.