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NCLT admits Pen India's plea against Reliance Entertainment Studios

NCLT Mumbai has admitted Pen Indias insolvency petition against Reliance Entertainment Studios over a 11.94 crore default linked to a security deposit agreement. The tribunal held that the transaction qualified as financial debt and that Reliances liability remained outstanding despite its repayment mechanism. It rejected Reliances objections and initiated the corporate insolvency resolution process.

20 Aug 2026 11:54 pm