Indian tribunal orders disciplinary action against Byju's manager, reconstitutes creditor committee.

The National Company Law Tribunal (NCLT) has ordered disciplinary proceedings against Pankaj Srivastava, the resolution professional of the debt-ridden ed-tech company Byju's, due to his prejudicial actions. Srivastava was removed, and the tribunal reconstituted the Committee of Creditors, including Glas Trust and Aditya Birla Finance, to appoint a new resolution professional. This follows the Supreme Court's decision to resume insolvency proceedings against Byju's parent company, Think & Learn.

2 months ago
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