India, Feb. 11 -- Byju's is currently facing insolvency proceedings. The National Company Law Tribunal (NCLT) has ordered important changes in the process to ensure fairness and transparency. According to sources, Pankaj Shrivastava, Byju's interim resolution professional, called a meeting of the committee of creditors (CoC) on Saturday to cast votes for the permanent resolution professional. One of the sources further stated that Glas Trust Company, the administrative agent chosen by a group of Byju's lenders, will be present at the CoC meeting and will have 99.41% voting rights in compliance with a National Company Law Tribunal (NCLT) order. To understand this better let's read further to understand what this means!

A meeting of the Co...