Summary
- The Karnataka High Court has directed the NCLT to expeditiously consider a dispute over the sale of Byju’s K3 assets, following a petition from its Resolution Professional.
- The petitioner sought to quash an order and public announcement regarding the sale of assets at IndoSpace Logistics Complex, fearing adverse effects on the insolvency resolution process.
- The Court emphasized that disputes between Resolution Professionals should be resolved within the NCLT rather than through parallel writ proceedings.
- NCLT is mandated to address the matter within 15 days, with discretion to protect the companies' assets as deemed appropriate.
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