Embattled ed-tech firm Byju’s has a new navigator for its bankruptcy proceedings.
On Monday, the Bengaluru insolvency court approved the appointment of Shailendra Ajmera as the resolution professional (RP), replacing Pankaj Shrivastava. This follows a January order by the National Company Law Tribunal (NCLT), which questioned Shrivastava’s ability to oversee the process. The tribunal also cancelled a Committee of Creditors (CoC) reconstitution he carried out on 31 August 2024, reinstating the previous CoC formed on 21 August 2024.
The move marks a critical shift in Byju’s insolvency battle, which has pitted the company’s dissenting lenders—Glas Trust LLC and Aditya Birla Finance—against its suspended directors, including Riju…
