NCLAT Member Recuses From Hearing Appeal By Riju Ravindran Against Inclusion Of Aditya Birla, Glas Trust In CoC As Financial Creditors Of Byju's
Tazeen Ahmed
7 Feb 2025 6:30 AM
Justice Sharad Kumar Sharma (Judicial Member), Judicial Member of of the National Company Law Appellate Tribunal (NCLAT) Chennai bench, has recused from hearing ed-tech start-up, Byjus' founder, Riju Raveendran's appeal against the order of the National Company Law Tribunal (NCLT) Bengaluru, which allowed Glas Trust and Aditya Birla Finance to be included in the Committee of Creditors...
Justice Sharad Kumar Sharma (Judicial Member), Judicial Member of of the National Company Law Appellate Tribunal (NCLAT) Chennai bench, has recused from hearing ed-tech start-up, Byjus' founder, Riju Raveendran's appeal against the order of the National Company Law Tribunal (NCLT) Bengaluru, which allowed Glas Trust and Aditya Birla Finance to be included in the Committee of Creditors (CoC) as Financial Creditors of Think & Learn (Parent Company of Byjus).
Justice Sharad Kumar Sharma, reasoning his recusal, stated,
“As per the cause title of the instant Company Appeal, as one of the respondents reflected therein, happens to be the BCCI (Respondent No.4) on whose behalf, I had regularly appearing as a Senior counsel, I recuse the matter to be heard by the Bench of which one of us, the Judicial Member, is a member of the bench”
On January 29, the NCLT had ordered the initiation of disciplinary proceedings against the Resolution Professional (RP) of Byjus. The NCLT stated that the conduct of the IRP was prejudicial to the interests of the CIRP and the stakeholders.
Case Title: Riju Ravindran Suspended Director & Promoter of Think & Learn Pvt Ltd. vs. Pankaj Srivastava, RP of Think & Learn Pvt. Ltd & 3 Ors.
Case Number: Company Appeal (AT) (CH) (Ins) No. 58/2025 (IA Nos. 204 & 205/2025)
For Appellant : Mr. Arun Kathpalia, Senior Advocate Mr. Adarsh Ramanujan, Ms. Anannya Ghosh, Mr. Rishab Gupta, Ms. Doel Bose, Ms. Mrindini Mishra, Ms. Diksha Gupta, Advocates
For Respondents : Mr. PH. Arvindh Pandian, Senior Advocate for R1 Mr. Abishek Jenasenan, & Mr. Lalit Kataria, Advocates for R2
Date of Order: 06.02.2025