Byju’s RP’s suit claims directors owe compensation to company under IBC laws

An EY-backed resolution professional (RP) has filed lawsuits at the National Company Law Tribunal (NCLT) claiming former Byju’s directors owe compensation to the company for fraudulent transfers of the company’s assets, according to people familiar with the matter.

The lawsuits invoke a provision under the Insolvency and Bankruptcy Code which provides legal recourse to reverse transactions undertaken by a company’s previous management.