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NCLT approves resolution plan of Sapphire Media Ltd for Big 92.7 FM
Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the resolution plan of Sapphire Media Ltd for the iconic radio network Big 92.7 FM, owned by Reliance Broadcast Network Ltd.
The NCLT Bench comprising technical member Madhu Sinha and judicial member Reeta Kohli approved the resolution plan submitted by Sapphire Media Ltd in its order dated 6 May.
“The interlocutory application is allowed. The Resolution Plan submitted by Sapphire Media Ltd is hereby approved. It shall become effective from this date and shall form part of this order,” the bench said in its order.
Big FM, owned by Reliance Broadcast Network Ltd, has been going through the insolvency process since Feb 2023. The Corporate Insolvency Resolution Process (CIRP) was initiated under the Insolvency and Bankruptcy Code of 2016 and Rohit Mehra was appointed as the resolution professional.
A committee of creditors of Big FM was also appointed, which approved Sapphire Media Limited’s resolution plan on November 11, 2023, with a voting share of 88.97% under the provisions of the Insolvency and Bankruptcy Code.
The resolution professional subsequently filed an application with NCLT Mumbai seeking approval of Sapphire Media Limited’s resolution plan. As per the plan, Sapphire Media Ltd will pay Rs. 261 crores to secured and operational creditors as against the total claims of Rs. 947.5 crore.
The NCLT order also directed the monitoring committee to supervise the implementation of the resolution plan and file the status of its implementation before it from time to time.
The acquisition by Sapphire Media Ltd is expected to inject fresh energy into Big FM. As the country’s largest radio network with 58 stations and a reach of over 1,200 towns and 50,000 villages, the brand will reinforce Sapphire Media Limited’s pan-India presence.
eNews
Swiggy sees record orders during India vs New Zealand T20 final
Chicken biryani tops match-day menu as fans order 7,500 times per minute at peak.
MUMBAI: India’s T20 final didn’t just break stumps, it broke Swiggy’s delivery records, proving cricket fans celebrate victories with plates, not just flags. Swiggy, India’s leading on-demand convenience platform, reported a sharp spike in food orders during the ICC Men’s T20 World Cup final between India and New Zealand. On 8 March 2026, overall orders rose 23.2 per cent year-on-year compared with the same date in 2025, driven by fans turning living rooms into mini stadiums complete with match-day feasts.
Key highlights from the evening:
- Orders during peak match hours (7–10 pm) were 2.1 times higher than pre-match levels.
- The highest order rate hit 7,500 orders per minute at 19:45.
- Chicken biryani reigned supreme as the most-ordered dish, followed by masala dosa, chicken fried rice, garlic breadsticks and paneer butter masala.
While metros such as Bengaluru, Mumbai and Hyderabad led volumes, the cricketing fever spread nationwide. Among emerging cities, Thiruvananthapuram, Surat and Rajkot recorded the strongest order growth. Smaller markets including Shillong, Agartala and Port Blair also showed significant appetite, underlining the expanding footprint of quick-commerce food delivery across India.
The surge reflects a growing trend of pairing major sporting events with doorstep delivery, turning big matches into shared, convenient celebrations. In a night where every boundary mattered, Swiggy proved the real MVP might just be the delivery partner who kept the snacks and the vibes flowing without missing a single wicket.
