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-- Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.A Guide to Urban Swimming in Europe, Beyond the Seine
The removal is a setback for the lenders, represented by investment firm Glas Trust, and their effort to collect more than $1.2 billion from the troubled startup. Glas Trust has been the most vocal opponent of a settlement agreement Byju’s struck with an Indian creditor — the country’s cricket governing body — to escape insolvency.
“Pankaj Srivastava’s actions are unprecedented and entirely illegitimate as no interim resolution professional in the history of the Insolvency and Bankruptcy Code of India has ever attempted to unlawfully strip financial creditors of claims of this magnitude,” the lenders said.Lenders have been trying to force Byju’s into an insolvency proceeding in a court in India for months, but with limited success. One part of that court fight is now before India’s Supreme Court.
In India, Byju’s had a deal to end the main insolvency case against it, filed by the cricket governing body. The lenders have asked the Supreme Court of India to block that deal, arguing money that should go to them was wrongly being used to pay off the cricket board instead. The court hasn’t yet ruled on that appeal.
Frances Tiafoe vs Grigor Dimitrov LIVE: US Open score and updates as American targets spot in semi-final Andrea Rodriguez Avila was well on her way to building her future and living out her purpose. The Perry Hall high school and CCBC grad had just recently transferred to Rice University last spring, beginning her matriculation as a political science and pre-law major. Last week, on Monday, August 26th, she was tragically shot and killed. Her body was found in the Jones College residential hall at Rice.
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