NCLT Approves Shailendra Ajmera As New Resolution Professional

SUMMARY

Ajmera will be replacing Pankaj Shrivastava whose conduct was deemed as “unfit” and “improper” by the National Company Law Tribunal (NCLT) for an officer of the tribunal. 

This comes after the edtech company’s committee of creditors (CoC) reportedly passed a resolution to replace Shrivastava with Ajmera

BYJU’S has been facing significant financial challenges, leading to insolvency proceedings. It has struggled with debt repayment, particularly to major creditors like Glas Trust and Aditya Birla Finance.

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