The National Company Law Tribunal (NCLT) directed the Board of Control for Cricket in India (BCCI) to submit its application for settling the dispute with Byju’s and withdrawing the insolvency plea against Think & Learn Private Limited before the company’s Committee of Creditors (CoC).
The insolvency case involving the edtech platform Byju’s saw intense arguments on Tuesday(12th Nov), with the US-based financial creditor Glas Trust accusing the Resolution Professional (RP) of creating chaos.
Today, On 4th November, Aditya Birla Finance and Glas Trust petitioned the NCLT to replace the resolution professional managing Byju’s insolvency, claiming only one entity is classified as a financial creditor, resulting in a single-member Committee of Creditors. The NCLT will hear the case next week, following a stay on CoC meetings.
