India, March 1 -- The Bengaluru bench of the National Company Law Tribunal (NCLT) has appointed Shailendra Ajmera as the new insolvency resolution professional (IRP) of troubled edtech startup BYJU'S.

"Heard the learned senior counsel appearing for the applicant and considering the submissions made, the present application replacing the IRP, Mr. Pankaj Srivastava, by appointing Mr. Shailendra Ajmera, as resolution professional of the corporate debtor is hereby allowed," said the NCLT order dated February 24.

The order also noted that the members of BYJU'S committee of creditors (CoC), in their first meeting on February 11, passed a resolution to replace the outgoing IRP Srivastava with Ajmera. 99.82% of the members voted in favour of Aj...