Today, a lending company based in the US alleged that Byju’s had failed to make payments totaling more than Rs 8,000 crore. National Company Law Tribunal (NCLT) in Bengaluru issued a notice regarding a petition filed by international lender Glas Trust LLC. The petition seeks the commencement of insolvency proceedings against Think & Learn Pvt Ltd, the parent entity of the educational technology startup Byju’s.
The Supreme Court, in a recent judgment, has dismissed an appeal brought forward by a Resolution Professional (RP), underscoring the imperative for RPs to uphold a neutral position in such legal proceedings. The top court’s decision serves as a clear directive that the responsibility to seek appropriate legal remedies rests primarily with the aggrieved parties, […]