The Supreme Court on Thursday refused to stay the corporate insolvency resolution process (CIRP) of Think & Learn, the parent company of online education services company Byju’s, even as it sought a response from the former’s creditors, Aditya Birla Finance and US lender Glas Trust Co. LLC, and others.
Responses have also been sought from former and current resolution professionals of Think & Learn on two separate appeals by the company’s operational creditor, the Board of Control for Cricket in India (BCCI), and Byju’s co-founder Riju Raveendran. Both BCCI and Raveendran have sought the withdrawal of the insolvency proceedings against Think & Learn.
A bench led by Justice Vikram Nath, while refusing to grant status quo on the CIRP…
