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.
"The RP of TLPL (Think and Learn Private Limited) and the said newly impleaded Respondent are directed to maintain status quo in respect of the articles/equipment/assets auctioned under notice dated August 2, 2026, issued by the former, till next date," said a two-member bench.
The National Company Law Tribunal (NCLT) order came earlier this week over a plea moved by the resolution professional (RP) of Byju's K3 Education, which is also facing insolvency proceedings, and Kritikal Solutions, seeking protection of the assets pending verification of ownership and auction proceeds.
They had contended that even the RP of TLPL has not produced any documentary evidence of the articles auctioned, to claim ownership.
