NCLT Blocks Asset Disposal by BYJU'S Resolution Professional
· Business · Deccan Herald, deccanherald
The National Company Law Tribunal has issued an order preventing the resolution professional of BYJU'S parent company, Think and Learn Pvt Ltd, from proceeding with the disposal of auctioned assets. This directive halts ongoing liquidation efforts while the insolvency proceedings remain active. The tribunal's decision follows concerns regarding the transparency and process of asset sales within the company's bankruptcy framework.
Why it matters
The order directly impacts the ongoing insolvency process for the ed-tech firm, creating uncertainty for creditors and stakeholders waiting for the resolution of the company's liabilities.
Read the original report — Deccan Herald
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.