The Mumbai Bench of the National Company Law Tribunal (NCLT) has admitted an application filed by Reliance Net Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Zapak Mobile Games Private Limited, initiating the Corporate Insolvency Resolution Process (CIRP) against the mobile gaming company. The order was pronounced today, July 14, 2025.
The application was filed by Reliance Net Limited on February 12, 2025, claiming a default of Rs 1.32 crore as of November 30, 2024. This amount includes a principal sum of Rs 50 lakh and accrued interest of Rs 82.36 lakh at 10% per annum. The date of default was stated as October 31, 2022.
The financial debt originated from a loan advanced by Reliance Land…