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 Gujarat High Court addressed the NCLT’s ban on electronic devices during hearings. After a lawyer contested the ban, the court directed NCLT to allow the use of electronic devices, emphasizing maintaining decorum while ensuring practicality. The court cited the need for reasonable restrictions that do not disrupt court proceedings, in line with Supreme Court orders.
Betterplace Safety Solutions has taken legal action against Dunzo Digital over unpaid dues, initiating proceedings at the National Company Law Tribunal (NCLT) in Bengaluru. Dunzo, a local quick-grocery delivery provider, has reportedly accumulated outstanding vendor debts totaling approximately Rs 11.4 crore, according to recent reports. The legal action follows Dunzo’s receipt of notices from multiple […]
The President of the NCLT has decided to relocate all cases from Court-2 in Chandigarh following a viral video showing a dispute between judicial and technical members. This decision, announced on February 3, aims to address operational challenges and internal dynamics. It highlights the need for efficient case management and underscores broader issues within the NCLT.
A heated exchange at the NCLT Chandigarh Bench between judicial and technical members highlights the integration challenges and operational issues faced by the tribunal. Lawyers anonymously express recurring disagreements, reflecting the complexities of blending diverse professional cultures in the judiciary. The tribunal’s logistical limitations further strain its capacity and emphasize the need for infrastructure upgrades to enhance efficiency.
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, […]