NCLT asks US lenders of edtech company Byju’s to file fresh appeal

The National Company Law Tribunal (NCLT) on Wednesday deferred hearing on a plea filed by the Glas Trust, seeking a stay on the proceedings of the committee of creditors (CoC) from which it has been expelled, saying the US group representing Byju’s lenders can file a separate application if the matter doesn’t come up for hearing in the Supreme Court in a week.

The Bengaluru bench of the NCLT said that it cannot stop the proceedings of CoC as the go-ahead for its constitution and for conducting the meetings were given by the Supreme Court.