Insolvency Petition Under Section 9 Filed Against Sporta Technologies Private Limited

In a significant development at the National Company Law Tribunal (NCLT), Mumbai Bench -V, a corporate insolvency resolution process (CIRP) has been initiated against Sporta Technologies Private Limited. The petition, numbered CP No. 775/IBC/MB/2021, was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Piyush Jani, the Resolution Professional for Reward Business Solutions Private Limited. Case Background: The petition, dated 09.02.2024, highlights a dispute involving the non-payment…