Archive · 24 Jul 2026
NCLT Stays Byju's Bidding Process Until August 31
The National Company Law Tribunal (NCLT) has told the person handling the insolvency of Byju's not to start the process of finding buyers until August 31, 2026.
This is because the founders of Byju's, Byju Raveendran and Riju Ravindran, are questioning a big claim made by a company called GLAS Trust Company LLC.
This claim is for about Rs 11,433 crore, which gives them a lot of power in deciding what happens to Byju's.
The NCLT wants to hear more about this before any decisions are made.
NCLT directs resolution professional not to proceed with Form G bidding process for Byju's until August 31, 2026.
Founders Byju Raveendran and Riju Ravindran challenge the quantum of the claim by GLAS Trust Company LLC.
GLAS Trust Company LLC claims about Rs 11,433 crore, giving it over 99% voting power on the committee of creditors.
NCLT's direction came over an application filed by the founders questioning the claim.
The next hearing is scheduled for August 31, 2026.
- Who
- National Company Law Tribunal (NCLT), Byju Raveendran, Riju Ravindran, GLAS Trust Company LLC
- What
- NCLT stays Byju's bidding process until August 31, 2026
- When
- Next hearing scheduled on August 31, 2026
- Where
- Bengaluru, India
- Why
- To hear the founders' challenge to the claim in the company's insolvency
Founders' Challenge
Creditors' Claims
Quantum of Claims
Founders' Challenge
Byju Raveendran and Riju Ravindran are challenging the quantum of the claim by GLAS Trust Company LLC.
Creditors' Claims
GLAS Trust Company LLC claims about Rs 11,433 crore, giving it over 99% voting power on the committee of creditors.
- Company
- Think & Learn (Byju's)
- Resolution Professional
- Not specified
- Claimant
- GLAS Trust Company LLC
- Claim Amount
- Rs 11,433 crore
- Next Hearing Date
- August 31, 2026
- Voting Power
- Over 99%