Spicy Entertainment and Media Limited has been undergoing Corporate Insolvency Resolution Process and Mr. Deepak Saruparia has been appointed as Interim Resolution Professional vide order dated 05-11-2024 passed by Hon’ble NCLT, Kolkata Bench II.

With the Initiation of CIRP, the powers of Board of Directors have been suspended and same have been vested with the Resolution Professional. The affairs, business and property of the company are being managed by the IRP who contracts as agent of the company and without personal liability.