Byju’s lenders kicked off creditor panel by court official Srivastava

US lenders were kicked off an influential creditors committee by a court official in India, dealing the group a setback in their efforts to collect more than $1.2 billion from the troubled education tech company, Think & Learn Pvt, which is known as Byju’s.

The decision by the official, who is overseeing an insolvency case against Byju’s, means that the lenders didn’t have a chance to vote on who should run the company while a plan to repay creditors is put together. The lenders accused the official — Byju’s Interim Resolution Professional Pankaj Srivastava — of “secretly plotting to reject” their claims and of manipulating the creditors vote by excluding them.