In the ongoing corporate insolvency resolution process of Byju’s, employee claims filed as operational creditors have reached Rs 177.5 crore, with approximately Rs 32.56 crore being provisionally admitted by the resolution professional (RP), according to a document reviewed by FE.
Of the total claims, about Rs 59.87 crore has not been admitted, while claims worth Rs 85.06 crore are currently under verification, the document dated December 28, 2024, shows.
The RP, Pankaj Srivastava, has indicated that claims are being verified on a continuous basis, with some being provisionally admitted pending further documentation and verification of company records.
Employees who don’t find their names in the current list have been advised to send a reminder email to the designated email ID for follow-up on their claims, the document noted.
Under Section 15(1)(c), Regulations 6(2)(c) and 12(1), claimants can submit their claims within 14 days of commencement of CIRP, up to 90 days prior to seven days before the date of meeting of creditors for voting on the resolution plan or the initiation of liquidation, as the case may be.
The development comes as the NCLT has reserved its order on multiple crucial appeals, including those from Glas Trust and Aditya Birla Finance seeking inclusion in the committee of creditors (CoC), as well as BCCI’s plea to withdraw its insolvency petition.