NCLAT stays insolvency process against Dream 11 till February 23

Dream 11 co-founder Bhavit Sheth filed an application claiming that the application seeking initiation of insolvency against Dream 11 was barred under Section 10A of IBC.
NCLAT and Dream 11
NCLAT and Dream 11

The National Company Law Appellate Tribunal (NCLAT) recently granted a temporary stay on an order of the NCLT Mumbai admitting an insolvency plea against Sporta Technologies, owner of fantasy sports platform Dream 11, for a debt of over ₹7 crore. [Bhavit Sheth v. Madan Lal (IRP, Sporta Technologies)]

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