Byju’s US lenders vs interim resolution professional: Glas Trust not part of insolvency panel

BENGALURU: Byju’s insolvency resolution professional (IRP) Pankaj Srivastava has removed the edtech company’s US-based lender Glas Trust from the committee of creditors.

The steering committee of the ad hoc group of term loan lenders under the USD 1.5 billion term loan guaranteed by Think & Learn Pvt Ltd, said in a statement, “Pankaj Srivastava’s actions are unprecedented and entirely illegitimate.”