BCCI may move NCLT to seek withdrawal of Byju's insolvency proceedings

Quick Summary:

I’m not concerned about the outcome of the court order.

US lenders of Byju's have reportedly sought the removal of the IRP appointed to Byju's and are also demanding that the Committee of Creditors be reconstituted.

The court also clarified that any application for withdrawal must be made through the Interim Resolution Professional (IRP), not directly by the parties involved.

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Article Details

Category: BusinessFinance

Markets: India

Topics: BCCI Byju's Bankruptcy NCLT Insolvency Supreme Court

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 19:47:16 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 386 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23555021

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Official Website: business-standard.com

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