Suspended BYJU’S Directors Challenge NCLT’s Ruling To Reinstate Lender

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SUMMARY

The petition, filed by suspended director Riju Raveendran and current resolution professional Pankaj Srivastava before the Chennai bench of NCLAT, argues that the NCLT had reserved its January 29 order on both the settlement approval and the lenders’ challenge

However, the tribunal ruled only on the lenders’ plea, leaving the settlement unresolved

Besides this, the petition also questioned the tribunal’s decision to remove the current resolution professional and the appointment of a new RP

Suspended directors…



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Suspended BYJU’S Directors Challenge NCLT’s Ruling To Reinstate Lender


SUMMARY

The petition, filed by suspended director Riju Raveendran and current resolution professional Pankaj Srivastava before the Chennai bench of NCLAT, argues that the NCLT had reserved its January 29 order on both the settlement approval and the lenders’ challenge

However, the tribunal ruled only on the lenders’ plea, leaving the settlement unresolved

Besides this, the petition also questioned the tribunal’s decision to remove the current resolution professional and the appointment of a new RP

Suspended directors…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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