Jiostar India Pvt. Ltd has approached the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Absolute Legends Sports Pvt. Ltd., the company associated with the Legends League Cricket tournament, over alleged unpaid dues of ₹3.59 crore.
In a petition (accessed by Storyboard18) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, Jiostar has claimed that Absolute Legends Sports failed to clear payments arising out of media rights and airtime agreements executed between the two parties in September 2024. The broadcaster has sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the company for what it termed an undisputed operational debt.
According to the…