Pankaj Kumar Singhal Vs Shailendra Ajmera (Karnataka High Court)
Summary: The petitioner, who is the Resolution Professional of Byju’s K3 Education Private Limited (Byju’s K3), approached the High Court seeking, inter alia, setting aside of the order dated 13.08.2026 passed by the National Company Law Tribunal, Bengaluru Bench in I.A. No. 768/2026 in C.P. (IB) No. 29/2025, and quashing of the public announcement dated 02.08.2026 concerning sale of certain assets at IndoSpace Logistics Complex, Bommasandra, Bengaluru.
The petitioner apprehended that Respondent No.1, being the Resolution Professional of Think and Learn Private Limited, a subsidiary or related company of Byju’s K3, was proposing to sell properties allegedly belonging to Byju’s K3, which could adversely affect the insolvency resolution process being conducted by the petitioner.
The High Court noted that the matter was already seized of by the National Company Law Tribunal and that the assets of both companies were in the custody of the Tribunal. The Court therefore held that the petitioner should pursue the matter before the NCLT and that parallel proceedings could not be initiated before the High Court, particularly when the dispute was between two Resolution Professionals.
The writ petition was accordingly disposed of by reserving liberty to the petitioner to move the pending proceedings before the NCLT on 20.08.2026 and directing the NCLT to take up the matter and pass appropriate orders.
