JSA, CAM act on Smaaash Entertainment CIRP

JSA Advocates & Solicitors and Cyril Amarchand Mangaldas have acted on the Corporate Insolvency Resolution Process (CIRP) of the Smaaash Entertainment Private Limited, under the Insolvency and Bankruptcy Code, 2016.

JSA advised end-to-end on the entire CIRP of Smaaash and successfully represented the Resolution Professional of the Company Brugesh Amin, before the National Company Law Tribunal, Mumbai, 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.

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).

CAM advised and represented Nazara Technologies Limited in connection with the submission and implementation of the resolution plan for Smaaash Entertainment. The Firm was involved in drafting and negotiation of the Resolution Plan with the committee of creditors of the Smaaash and has advised and represented Nazara during the entire process culminating into successful approval and implementation of the Resolution Plan. The Firm also represented Nazara before the NCLT.

The transaction team was led by Madhav Kanoria (Partner) and Surbhi Pareek (Partner) with the support from Shivani Chaturvedi (Principal (Associate) and Karthika Sanjay,(Associate).

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.

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