Glas Trust alleges unlawful removal from BYJU'S committee of creditors in SC

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Glas Trust alleges unlawful removal from BYJU'S committee of creditors in SC - YourStory

Quick Summary:

Glas Trust Company LLC told the Supreme Court that it was wrongfully removed from BYJU'S Committee of Creditors by the interim resolution professional handling its insolvency.

In the meantime, BCCI shall maintain the amount of Rs 158 crore, which shall be realised in pursuance of a settlement, in a separate escrow account until further orders," the bench had said.

The bench had said the developments, which may take place in the meantime, can be negated if it finds there was no merit in the appeal of the US-based creditor against the judgment of appellate insolvency tribunal NCLAT.