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Riju Ravindran moves NCLT, alleges GLAS Trust has no authorisation to represent its US-based lenders

Economic Times · 1d

Riju Ravindran, co-founder of Think and Learn, has approached NCLT to challenge GLAS Trust's representation in Byju's creditor proceedings, claiming it falsely portrays itself as a financial creditor. Ravindran argues GLAS only represents 17.38% voting rights and seeks its removal, stating decisions with GLAS's involvement should be nullified. This move questions GLAS's authority without backing from a majority of lenders and alleges manipulation of the insolvency process.