The NCLT has paused the insolvency bidding process for Think & Learn (Byju’s) until August 31. The tribunal ordered this stay to review a contested ₹11,433 crore claim from U.S. term loan lenders. This decision stops the resolution professional from inviting new buyers or finalizing a list of applicants while the validity of the lender’s claim is examined.
Detailed Coverage
The Bengaluru bench of the National Company Law Tribunal (NCLT) has granted a temporary stay on the insolvency bidding process for Think & Learn, the parent company of Byju’s. This order, effective until August 31, prevents the company’s insolvency resolution professional from moving forward with the critical phase of finding new buyers for the ed-tech firm.