Justice Sharad Kumar Sharma Recuses Himself From Byju Raveendran's Insolvency Appeal Due To Conflict Of Interest

Justice Sharma stated his prior role as senior counsel for the Board of Control for Cricket in India (BCCI) in several cases as the reason for his recusal.

The insolvency proceedings were initiated against Think & Learn Private Limited by the National Company Law Tribunal (NCLT) in Bengaluru. The insolvency process was triggered by a petition from the Board of Control for Cricket in India (BCCI) alleging that Think & Learn defaulted on a payment of ₹159 crore.

Justice Sharma stated that due to his previous legal representation for the BCCI, which is a key party in the current insolvency case, it would be inappropriate for him to preside over the matter. In his absence, the case will be reassigned.

The insolvency proceedings against Think & Learn were ordered by the NCLT on July 16, 2024. The tribunal admitted a petition filed by the BCCI under the Insolvency and Bankruptcy Code (IBC) which alleged that Think & Learn had defaulted on a payment of ₹158.9 crore. Following the NCLT's order, Pankaj Srivastava was appointed as the interim resolution professional to oversee the company's management. This appointment also led to the suspension of the company's board of directors' powers.

Byju Raveendran, who is a suspended director, promoter, and shareholder of Think & Learn, filed an appeal challenging the NCLT's decision before the NCLAT. The appeal was scheduled to be heard by a two-member bench of the NCLAT, comprising Justice Sharma and Jatindranath Swain, a Technical Member.

Given the conflict of interest with Justice Sharma, the matter was adjourned. Justice Sharma instructed that the case be referred to the NCLAT Chairperson, Justice Ashok Bhushan. Justice Bhushan is responsible for nominating a new bench to hear the appeal.

Click Here To Read/Download Order or Judgment