Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition filed by Pen India Pvt. Ltd. against Reliance Entertainment Studios Pvt. Ltd. over unpaid dues of ₹11.94 crore.
The tribunal has appointed Umesh Balaram Sonkar as the interim resolution professional (IRP), who will now undertake the responsibilities prescribed under the Insolvency and Bankruptcy Code (IBC), 2016.
The case stems from financial assistance provided by Pen India to Reliance Entertainment in 2022 as a security deposit connected with the release of the film Auron Mein Kaha Dum Tha. According to the petition, the amount was not repaid, prompting Pen India to approach the NCLT under Section 7 of the IBC.
In its…