An EY-backed ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/resolution-professional” target=”_blank”>resolution professional (RP) has filed lawsuits at the ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/national-company-law-tribunal” target=”_blank”>National Company Law Tribunal (NCLT) claiming former ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/byju%E2%80%99s” target=”_blank”>Byju’s directors owe compensation to the company for ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/fraudulent-transfers” target=”_blank”>fraudulent transfers of the company’s assets, according to people familiar with the matter.
The lawsuits invoke a provision under the ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/insolvency-and-bankruptcy-code” target=”_blank”>Insolvency and Bankruptcy Code which provides legal recourse to reverse transactions undertaken by a company’s previous management.
Shailendra Ajmera, the RP of Think and Learn, which houses Byju’s ed tech business and is undergoing…
