NCLAT asks IRP of Dream 11 to refrain from taking steps for insolvency

The National Company Law Appellate Tribunal has directed the interim resolution professional of Sporta Technologies, which operates the fantasy sports platform Dream 11, not to take any steps towards insolvency and keep the company as a going concern.

The appellate tribunal said it has already stayed the Corporate Insolvency Resolution Process (CIRP) of the company.

“We only clarify that IRP is directed not to take any steps in the CIRP, however, IRP being in the place shall keep the company as a going concern,” the NCLAT said in its order.