NCLT stays disposal of Byju’s subsidiary assets worth Rs 150 crore sold for Rs 16 crore

The insolvency tribunal NCLT has ordered a status quo on the assets sold by the resolution professional of Think and Learn Private Limited, the parent entity of debt-ridden edutech firm Byju’s, in one of its subsidiaries.

The Bengaluru-based bench of the NCLT has put a hold on any further disposal of Byju’s K3 Education’s assets till the next hearing on September 21 amid allegations that assets worth around Rs 150 crore were sold for just about Rs 16 crore.