NCLT Reserves Order On Appeals Filed By Creditors Of BYJU’S

by · Inc42

SUMMARY

  • RP’s counsel contended that Glas Trust's claim to be included in the CoC was contested on account of a pending New York court case regarding the TLB extended to BYJU’S
  • The tribunal also reserved its order on BCCI’s plea, which seeks to withdraw the insolvency petition against the edtech startup
  • Glas Trust also argued that the RP did not have the authority to reconstitute a CoC once the committee was formed, adding that the power to do so rests with the NCLT