New Delhi, Jan. 29 -- The National Company Law Tribunal (NCLT) on Wednesday reinstated Glas Trust and Aditya Birla Finance Ltd as Byju's financial creditors.

The tribunal found Byju's interim resolution professional (IRP), Pankaj Srivastava, unfit to oversee the insolvency process, directed the Insolvency and Bankruptcy Board of India (IBBI) to take disciplinary action against him and disband the CoC he constituted.

The insolvency court also set aside the resolution passed by the reconstituted CoC on 3 September 2024, which appointed Srivastava as the IRP.

The court directed that the reconstitution of the CoC on 31 August 2024 be cancelled, and the erstwhile CoC from 21 August 2024 be retained. The retained CoC from 21s August 2024 wil...