Suspended Resolution Professional Alleges Pressure To Rope In EY

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SUMMARY

Pankaj Srivastava alleged that Khaitan & Co officials threatened to malign his image as insolvency officer if he appointed anyone but EY as process advisor in the insolvency procedure against BYJU’S

Khaitan & Co is representing GLAS Trust, US-based lenders who gave BYJU’S $1.2 Bn term loan B in 2021, in their ongoing legal battle against the edtech company

NCLT initiated bankruptcy proceedings against BYJU’S last year after the BCCI $complained about failure to recover unpaid dues worth INR 158 Cr



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Suspended Resolution Professional Alleges Pressure To Rope In EY


SUMMARY

Pankaj Srivastava alleged that Khaitan & Co officials threatened to malign his image as insolvency officer if he appointed anyone but EY as process advisor in the insolvency procedure against BYJU’S

Khaitan & Co is representing GLAS Trust, US-based lenders who gave BYJU’S $1.2 Bn term loan B in 2021, in their ongoing legal battle against the edtech company

NCLT initiated bankruptcy proceedings against BYJU’S last year after the BCCI $complained about failure to recover unpaid dues worth INR 158 Cr



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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