Supreme Court puts on hold CoC's request to intervene in Byju's trust dispute

The Supreme Court on Monday reserved its decision regarding the Committee of Creditors' (CoC) request to be heard in a litigation that aims to remove GLAS Trust Company LLC from the CoC overseeing Think & Learn Private Limited, the parent of Byju’s. Justices J B Pardiwala and K Vinod Chandran considered whether the CoC should be treated as a necessary party because the outcome could alter its makeup and prior decisions.

The case originated from a filing by former Byju’s director Riju Ravindran at the National Company Law Tribunal (NCLT) in Bengaluru, seeking GLAS Trust’s removal. Amit Sibal, representing the CoC, argued that the committee’s functioning would be directly impacted, while Rohan Thawani, for Ravindran, said the CoC would not oppose participation but warned of further delays if the matter were reopened. The NCLAT had earlier ruled the CoC was not a proper party, and the Supreme Court indicated the issue might be sent back to the NCLT for the CoC to be heard without repeating other parties’ submissions.