The National Company Law Tribunal (NCLT), Bengaluru Bench, has directed the Resolution Professional (RP) of Think and Learn Private Limited (TLPL) and auction buyer Comprint Tech Solutions (I) Private Limited to maintain status quo over the articles, equipment and assets auctioned under the notice dated 2 August 2026. According to reports from Business Standard, the order, passed on 31 August 2026, requires the disputed assets to be preserved in their existing state until the next hearing on 21 September 2026. The Bench, comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada, observed that even if part of the auctioned articles actually belonged to TLPL, the ownership of rest of the articles remains in haze. As per Live Mint, the NCLT stated that maintaining the status quo would not prejudice either party, but the change in the position of the assets could not be undone.
The direction came on an application by the RP of Byju's K3 Education Private Limited, supported by counsel for the suspended directors. As reported by Business Standard, the applicant questioned the ownership and disposal of the assets and submitted that articles worth approximately ₹150 crore had been auctioned for approximately ₹16 crore. According to Live Mint, the dispute concerns tablets, electronic equipment, and other articles stored in a warehouse used by TLPL, Byju's K3, and Aakash. The RP of Byju's K3 claimed that a December 2024 communication from logistics company Criticalog specifically identified K3's assets, which were allegedly handed over to TLPL's security team and subsequently moved to an IndoSpace warehouse. Despite repeated requests to inspect the warehouse and identify K3's assets, it was refused, says K3's RP. TLPL's RP disputed the ownership claim, pointing out that Byju's K3 was only a service provider and that the hardware had been procured and supplied by TLPL, with the contents of the devices also belonging to TLPL.
TLPL is the parent company of edtech firm Byju's, which is undergoing a corporate insolvency resolution process. According to Business Standard, the applicant argued that further dissipation of assets in which Byju's K3 claimed a substantial stake could leave it without the assets needed to continue its corporate insolvency resolution process. As per Live Mint, TLPL, which operated the Byju's edtech platform, was admitted to the corporate insolvency resolution process in July 2024 after the BCCI filed a case over unpaid sponsorship dues of around ₹159 crore. Byju's K3 Education, meanwhile, was already facing a separate insolvency case filed by operational creditor Kritikal Solutions Private Limited. Currently, the two companies are being handled separately by different resolution professionals.
During the hearing, the applicant complained that the earlier direction had not been complied with, as reported by Business Standard. Counsel for TLPL's RP said more time was needed to collate the data and retrieve the relevant documents. The Tribunal also brought Comprint, the successful bidder in the auction held on 14 August 2026, into the proceedings as a respondent and directed the buyer to comply with the Tribunal's earlier order dated 20 August 2026 within one week. According to Live Mint, Comprint has been directed to provide a detailed inventory of the assets, photographs, and the complete address where they are stored, with both TLPL's RP and Comprint asked not to alter the status of the assets. The proceedings followed a Karnataka High Court order dated 28 August 2026, which allowed the applicant to approach the NCLT for protection of the properties in question.
