NCLT Bengaluru Orders Status Quo After Claims That Byju's Assets Worth ₹150 Crore Were Auctioned for ₹16 Crore

The National Company Law Tribunal, Bengaluru, has recently directed the Resolution Professional of Byju's and the successful bidder to maintain the status quo over auctioned assets.

The order came after the Resolution Professional of Byju K3 claimed that assets worth about ₹150 crore had been auctioned for about ₹16 crore despite an ownership dispute.

The tribunal found that ownership of some of the assets remained unclear.

“Even if part of the auctioned articles actually belonged to TLPL, the ownership of rest of the articles remains in haze,” the tribunal observed. It ruled that the assets needed to be preserved until concrete evidence was produced.

Otherwise, it noted, any change in the situation might not be capable of being undone.

The order was passed on August 31, 2026, by a bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada.

The matter arose from an application filed by Kritikal Solutions Private Limited, the RP of Byju K3 Education Private Limited, seeking protection of assets auctioned by the TLPL RP.

The auction followed a notice issued on August 2. Comprint Tech Solutions (I) Private Limited was declared the successful bidder.

Counsel for the applicant contended that the applicant had a substantial stake in the assets that were auctioned. It argued that their further dissipation could affect the ongoing insolvency resolution process of Byju K3.

The applicant also contended that the Resolution Professional of Byju's had not produced documents to establish ownership of the articles put up for auction.

It further argued that assets worth about ₹150 crore had been auctioned for about ₹16 crore. The applicant expressed concern that the successful bidder could dispose of them. It also pointed out that the bidder's registered address was in an under-construction building. According to the submission, the premises were found locked during repeated visits.

Counsel for the Resolution Professional of Byju's opposed the plea. It argued that Byju K3 was only a service provider. The hardware had been procured and provided by Byju's, it contended. The contents of the hardware also belonged to Byju's. This arrangement, it argued, did not give Byju K3 ownership of the hardware or software.

The tribunal also took note of the submission that at least 15 vehicles carrying assets from the warehouse had left for Mumbai in the preceding days. It observed that some of the auctioned articles might have belonged to Byju's. But ownership of the remaining articles was still unclear.

The tribunal then directed the Resolution Professional of Byju's and Comprint Tech Solutions to maintain the status quo over the articles, equipment, and assets auctioned under the August 2 notice. The direction will continue until the next hearing.

Comprint Tech Solutions was also added as a party to the proceedings. It must file a detailed inventory of the purchased assets within one week of receiving notice and a copy of the order. It must also provide the complete address where the assets have been stored, along with photographs.

The matter is listed on September 21, 2026.

For Applicant: Advocates Manasi Kumar, Ayushi J. D. Souza, and Aparna Gupta

For Respondent: Senior Advocate Abhinav Vasisht, Advocates Pooja Mahajan, Ichchha Kalash, Sparsh Jain, Harikrishna Pramod, Aishwarya Ravindranath and Akshita Sachdeva Jaitly

For Suspended Directors: Senior Advocate Joy Saha