Mr. Byju Raveendran vs Think & Learn Pvt. Ltd. - 2024 Supreme(Online)(NCLAT) 1350

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2024 Supreme(Online)(NCLAT) 1350

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Rakesh Kumar Jain, J
Mr. Byju Raveendran – Appellant
Versus
Think & Learn Pvt. Ltd. – Respondent

For the Appellants/Petitioners:Mr. Arun Kathpalia, Senior Advocate, Mr. Puneet Bali, Senior Advocate, Mr. Dhyan Chinnappa, Sr. Advocate, Mr. Rishash Gupta, Advocate, Mr. Zulfiguar Memon, Advocate, Mr. Waseem Pangankar, Advocate, Ms. Nadiya Sargureh, Advocate, Mr. Avishkar Singhvi, Advocate, Mr. Swapnil Srivastava, Advocate, Mr. Yashowandhan Dixit, Advocate, Mr. Gargi Patil, Advocate, Mr. Aditi Tiwari, Advocate, Mr. Allan David, Advocate, Mr. Jayesh Srivastava, Advocate, Mr. Yashita Bhardwaj, Advocate, Mr. Kunal Vajani, Adv.
For the Respondents:Mr. Pooja Mahajan, Advocate, Mr. Mahima Singh, Advocate, Mr. Avinash Amarnath, Advocate, Mr. Zubin Joseph, Advocate, Mr. Naman Golechha, Advocate, Mr. Samridhi Shrimali, Advocates for R1, Mr. Tushar Mehta, Sr. Adv., Mr. Satish Parasaran, Sr. Adv., Mr. Krishnava Dutt, Advocate, Ms. Aditi Chaudhury, Advocate, Ms. Bhavya Mohan, Advocate, Ms. Ann Finiya Pereira, Advocate, Ms. Mili Baxi, Advocate, Mr. Tanmay Mehta, Advocate, Mr. Kanu Agarwal, Advocate, Mr. Ashwini Vaidlialingam, Advocate, Mr. Gowri MS Advocate for R2 (BCCI), Mr. Mukul Rohatgi, Sr. Advocate, Mr. Krishnendu Datta, Sr. Advocate, Mr. P.H. Arvindh Pandian, Sr. Advocate

ORDER

(Hybrid Mode)

Per: Justice Rakesh Kumar Jain (Oral)

02.08.2024: The Board of Control for Cricket in India (in short ‘BCCI”) filed a Company Petition (IB) No. 149/BB/2023 on 23.09.20223 under Section 9 of the Insolvency and Bankruptcy Code, 2016 (in short ‘Code’) against Think and Learn Pvt. Ltd. (Corporate Debtor) before the Adjudicating Authority (National Company Law Tribunal, Bengaluru Bench, Bengaluru) for the resolution of an amount of Rs. 1,58,90,92,400/-.

2. The company petition was admitted on 16.07.2024, Moratorium under Section 14 of the Code was imposed and Pankaj Srivastava was appointed as the Interim Resolution Professional (in short ‘IRP’).

3. The order dated 16.07.2024 is subject matter of this appeal, challenged by the Suspended Director of the Corporate Debtor, impleading the Corporate Debtor as Respondent No. 1 and the Operational Creditor as Respondent No. 2.

4. In this appeal, an application bearing I.A. No. 727 of 2024 has been filed by Glas Trust Company LLC, based in USA, as the administrative agent and collateral agent of the secured parties on the basis of a credit agreement executed on 24.11.2021 between Morgan Stanley and JP Morgan Chase Bank, N.A (J

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2024 Supreme(Online)(NCLAT) 1350

NATIONAL COMPANY LAW APPELLATE TRIBUNALRakesh Kumar Jain, JMr. Byju Raveendran – AppellantVersusThink & Learn Pvt. Ltd. – Respondent

Cases Referred (1)

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Rakesh Kumar Jain, J
Mr. Byju Raveendran – Appellant
Versus
Think & Learn Pvt. Ltd. – Respondent