Kolkata, New Delhi, INDIA. New York, USA.
Business To Business, New Delhi, 24th July, 2026: The National Company Law Tribunal (NCLT) has directed the resolution professional of debt-ridden Think & Learn Pvt. Ltd., the parent company of edtech firm Byju's, not to proceed with the Form G bidding process until the next hearing on August 31, 2026.
A two-member Bengaluru bench of the tribunal ordered that the public invitation for expressions of interest from prospective resolution applicants should not be issued, nor should the list of eligible bidders be finalised, pending the hearing of a challenge filed by the company's founders regarding claims admitted in the insolvency proceedings.
Under the Insolvency and Bankruptcy Code (IBC), Form G is a public invitation issued by the resolution professional seeking expressions of interest from potential buyers. It outlines details of the distressed company's assets, eligibility criteria for applicants, and the timeline for submitting bids.
The tribunal's interim order effectively pauses the next stage of the corporate insolvency resolution process until it considers the founders' objections at the scheduled hearing on August 31.