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Byjus and a group of its investors have been given three days by the National Company Law Tribunal to file written submissions on a plea about the edtech firms rights issue. This and more in todays ETtech Morning Dispatch.
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The lender has challenged NCLT order on August 10 granting approval to the composite scheme between ZEEL, Culver Max Entertainment (Sony), and Bangla Entertainment, a subsidiary of Sony, which would create a $10-billion media giant.
NCLT had passed the order on the petition filed by one of its operational creditors Bharat Road Carriers, claiming a default of Rs 71.27 lakh and had appointed Ravindra Kumar Goyal as Interim Resolution Professional (IRP). A statement from Rasna Group Legal Team said, "Considering the overall facts and circumstances of the case, the High Court of Gujarat was pleased to entertain the petition filed by Rasna challenging the order of NCLT."
On August 16, NCLT will address ICICI Bank's insolvency petition against Supertech.