The decision temporarily halts the next stage of the insolvency proceedings, preventing potential buyers from entering the process while the Tribunal considers the founders’ objections
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The National Company Law Tribunal has stayed the insolvency bidding process of Byju’s parent company Think & Learn till the next hearing on August 31, providing temporary relief to the company’s founders.
The Bengaluru bench of NCLT directed the resolution professional not to proceed with the issuance of Form G —the invitation for expressions of interest from prospective buyers —or to finalise the list of prospective resolution…