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BYJU’S Creditors Seek Removal Of Insolvency Manager

  • The consortium of BYJU’S creditors, including US-based lenders Glas Trust, have urged the National Company Law Tribunal (NCLT) to remove the insolvency resolution professional (RP), Pankaj Srivastava.
  • The RP has faced criticism for creating confusion and chaos, issuing notices to certain creditors and canceling decisions.
  • Another creditor, Aditya Birla Finance, also supports the appeal for the removal of the RP, stating that only one party has been accepted as a financial creditor for BYJU’S.
  • The next hearing at the NCLT is scheduled for November 18.

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