NCLT Rejects Shikhar Dhawan’s Insolvency Plea in LLC Payment Dispute Citing Contractual Ambiguity

Shikhar Dhawan Vs Absolute Legends Sports Private Limited (NCLT Delhi) An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Absolute Legends Sports Private Limited for an alleged default of ₹1,24,50,459 as on 30.04.2025. The claimed amount comprised a principal of ₹1,13,62,500 and interest of ₹10,87,959, calculated at 19.15% per annum under the Player Agreement dated 10.09.2024. The Corporate Debtor operates Legends League Cricket, a franchise-based T20 cricket league fo...