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by: Forbes

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NCLT orders action against RP of Byju's

The National Company Law Tribunal (NCLT) ordered disciplinary action against the resolution professional handling Byju's insolvency case due to misconduct. The tribunal reinstated Glas Trust and Aditya Birla Finance to the Committee of Creditors,
The National Company Law Tribunal (NCLT) has issued an order against the Resolution Professional (RP) of Byju's, directing him to address the concerns raised by the company's investors. The tribunal's decision comes in response to allegations that the RP, appointed to oversee Byju's insolvency resolution process, has not been adequately communicating or involving the investors in the process. The NCLT has instructed the RP to ensure transparency and to provide regular updates to all stakeholders, emphasizing the importance of their involvement in the decision-making process. This move is seen as an effort to balance the interests of Byju's creditors and its investors during the ongoing financial restructuring.

Read the Full MSN Article at:
https://www.msn.com/en-in/money/topstories/nclt-orders-action-against-rp-of-byju-s/ar-AA1y5QjV


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