Glas Trust, Aditya Birla Finance reinstated as lenders of edtech co Byju’s

The National Company Law Tribunal (NCLT) on Wednesday reinstated Glas Trust and Aditya Birla Finance as lenders of cash-strapped edtech firm Byju’s.

The tribunal ordered disciplinary action against Interim Resolution Professional (IRP) Pankaj Srivastava and rejected his decision to exclude Glas Trust and Aditya Birla Finance from the Committee of Creditors (CoC) of the edtech firm. The CoC balances the interests of all stakeholders during an insolvency process.