Today, On 21st July, The ex-promoters of BSPL have approached the Supreme Court seeking a review of its verdict ordering the company’s liquidation. They urged the court to grant an open court hearing on their review petition challenging the decision.
![[Byju's Insolvency Case] Resolution Professional (RP) Are Creating 'Chaos': Creditor To NCLT](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/08/image-44.png?resize=447%2C367&ssl=1)
![[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.
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, […]
