A judicial member of the National Company Law Appellate Tribunal (NCLAT), Chennai, on Monday recused himself from hearing a plea by Byju’s Founder Byju Raveendran against the insolvency petition against his company, Think & Learn Private Ltd.
Justice Sharad Kumar Sharma, a judicial member of the Chennai bench of the NCLAT, recused himself stating that he had appeared for the Board of Control for Cricket in India (BCCI) as a senior counsel in a number of cases.
“I will not venture into this. I have been a regular counsel for the BCCI in a number of cases,” he said.
He also directed that the case be placed before the NCLAT Chairperson for the nomination of an appropriate bench.
The NCLT, Bengaluru, had ordered insolvency proceedings against Think & Learn Private Ltd following a BCCI petition claiming a default of ₹ 159 crore.
The NCLT had earlier appointed Pankaj Srivastava as an interim resolution professional to oversee the management of Byju’s, temporarily suspending the power of the board of directors.
Byju Raveendran had moved the NCLAT against the insolvency proceeding order.
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Source: NDTV
