NCLT Directs Status Quo On Byju’s Parent Company Assets Auctioned Amid Ownership Dispute

Mumbai, September 3, 2026: The Bengaluru bench of the National Company Law Tribunal (NCLT) has directed Shailendra Ajmera, the Resolution Professional (RP) of Think and Learn Pvt Ltd (TLPL), the parent company of Byju’s, and the successful auction bidder to maintain status quo on the assets sold, amid a dispute over their ownership and their connection with the ongoing corporate insolvency resolution process (CIRP) of Byju K3 Education Pvt Ltd.

The order was passed on August 31 on an application filed by the RP of Byju K3, who sought protection of assets auctioned by TLPL. The tribunal also directed the successful bidder, Comprint Tech Solutions (I) Pvt Ltd, to furnish a detailed inventory of the assets purchased, along with their complete storage address and photographs.

Dispute Over Auctioned Assets

The dispute relates to an auction conducted by the Ajmera RP-TLPL under a notice dated August 2. According to the applicant, assets worth around Rs 150 crore were auctioned for about Rs 16 crore. It alleged that further dissipation of the assets could affect the CIRP of Byju K3. The applicant also questioned the successful bidder's credentials and claimed that its registered address was in an under-construction building that was found locked during repeated visits. These claims were part of the submissions before the tribunal and were not adjudicated as established facts in the order.

Ajmera opposed the relief and disputed the locus of the suspended directors, saying the auction proposal had been placed before the committee of creditors (CoC) as early as January 14.

The RP also said that Byju K3 was only a service provider and that the hardware had been procured and supplied by TLPL. According to his submission, the contents of the hardware were owned by TLPL and had been supplied to students of Byju K3.

Ownership Remains Unclear

The tribunal, however, observed that ownership of the auctioned assets remained unclear and said preserving them was necessary until concrete evidence emerged.

The bench noted that the applicant had informed it that at least 15 vehicles carrying assets from the warehouse had left for Mumbai in the preceding few days. It said that even if some of the auctioned articles belonged to TLPL, the ownership of the remaining assets was still uncertain.

“Preserving the auctioned articles” was therefore considered necessary, the tribunal said, adding that such an order would not irretrievably prejudice the successful bidder, while allowing the altered ground situation to continue could make the dispute difficult to undo.

Status Quo Ordered

The tribunal consequently impleaded Comprint Tech Solutions as a respondent in the proceedings and directed it and the TLPL RP to maintain status quo over the assets auctioned under the August 2 notice until the next date of hearing.

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Comprint has been given a week after being served with the application and order to submit a detailed inventory of the purchased assets, their complete storage address and photographs. The TLPL RP has also been directed to comply within a week with an earlier order dated August 20 and provide the relevant details to the Byju K3 applicant.

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