JSA advised Mr. Bhrugesh Amin, the Resolution Professional (“RP”) of Smaaash Entertainment Private Limited (“Smaaash”) in the Corporate Insolvency Resolution Process (CIRP) of Smaaash Entertainment Private Limited under the Insolvency and Bankruptcy Code, 2016. Smaaash operates 13 gaming and entertainment centres across India involving immersive and interactive games ranging from arcade games, bowling, go-karting and paint ball to virtual reality and simulation games, including its flagship centre in Kamla Mills Compound in Mumbai.
JSA advised end-to-end on the entire CIRP of Smaaash and successfully represented the RP before the Hon’ble National Company Law Tribunal, Mumbai (“NCLT”), in successfully obtaining approval of the resolution plan submitted by Nazara Technologies Limited which was approved by the committee of creditors of Smaaash.
JSA also successfully defended a number of ancillary proceedings including objections filed by the erstwhile promoter and also invalidated a move to transfer the Smaaash brand from Smaaash to an erstwhile promoter owned entity and also infringement of its trademark by another allegedly promoter owned entity which was running competing gaming centres.
Advised the Resolution Professional:
Mr. Bhrugesh Amin, from BDO Restructuring Advisory LLP, was the RP on this matter.
The JSA team advising on the matter was led by Varghese Thomas & Tirthankar Datta (Partners). They were supported by team members Fatema Kachwalla (Partner), Kunal Kaul (Partner), Aditi Sehgal (Partner), Virgil Braganza (Senior Associate) and Ciol Kumar (Associate).
Aditi specialises in banking & finance and insolvency. She has extensive experience in domestic and cross border debt transactions including syndicated lending (secured & unsecured), debt capital markets, real estate financing, project finance, structured finance, acquisitions, cross border investments, overseas direct investments, external commercial borrowings, listed and unlisted corporate bonds/ non-convertible debentures (private placement) and debt restructuring.