![[Byju's Insolvency Case] “They Have Classified Us as Operational Creditors; We Are Financial Creditors”: Aditya Birla Finance, Glas Trust Seek to Replace Resolution Professional](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/11/image-11.png?resize=300%2C168&ssl=1)
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.
![[Sahara Fraud] SC Asks Sahara Group to Give list of Top Officials, Properties For Rs 10k Crore Refund To Investors](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/09/image-2024-09-04T102424.755.png?resize=400%2C237&ssl=1)
The Supreme Court has highlighted Sahara Group’s failure to comply with its order to deposit Rs 10,000 crore into the SEBI-Sahara refund account. The court has emphasized the need for transparency and has instructed the conglomerate to propose a scheme for selling unencumbered properties. Sebi has expressed concerns about the uncertainty regarding the timeline for the group’s payment of the outstanding amount.
