The Bengaluru insolvency court selected Shailendra Ajmera to act as a resolution professional for Byju’s bankruptcy proceedings after changing the leadership of the case. Byju implemented this action directly after the National Company Law Tribunal (NCLT) expressed doubt about the resolution performance of Pankaj Shrivastava as a former resolution professional. The company finds itself at a decisive point during ongoing struggles over firm control. Byju’s former directors under the leadership of Riju Raveendran are actively working to free the company from its present state of insolvency.
The situation has worsened because Glas Trust LLC and Aditya Birla Finance…
