# In the matter of Riju Ravindran & Ors. vs. Pankaj Srivastava & Ors.

> NCLAT judgment dated 2025-04-17. Citation: TCN-2025-NCLAT-00378. The case involves two appeals against an order dated 10.02.2025 passed by the National…

- **Court:** NCLAT
- **Order date:** 17 Apr 2025
- **Citation:** TCN-2025-NCLAT-00378
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-chennai/riju-ravindran-ors-vs-pankaj-srivastava-ors-032acdbb

## Summary

### Background

The case involves two appeals against an order dated 10.02.2025 passed by the National Company Law Tribunal, Bengaluru Bench, regarding the CIRP of Think & Learn Pvt. Ltd. One appeal was filed by Riju Ravindran, and the other by the Board of Control for Cricket in India (BCCI).

## Facts

The National Company Law Tribunal (NCLT), Bengaluru Bench, admitted Think & Learn Pvt. Ltd. into CIRP on 16.07.2024.

BCCI filed a petition under Section 9 of the Code against Think & Learn Pvt. Ltd. for the resolution of an amount of Rs. 158,90,92,400/-.

Glass Trust Company LLC filed a petition under Section 7 of the Code on 22.01.2024 for the resolution of its debt of USD 984,333,223.70 against Think & Learn Pvt. Ltd.

The Tribunal admitted the application filed under Section 9 of the Code by BCCI on 16.07.2024 and appointed Mr. Pankaj Srivastava as the Interim Resolution Professional (IRP).

Mr. Byju Raveendran, promoter and suspended director of Think & Learn Pvt. Ltd., challenged the order dated 16.07.2024.

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## Issues and analysis

### Issue 1: Whether the application for withdrawal of CIRP submitted with Form FA should be considered to have …

**Ratio:** The application for withdrawal must be considered based on whether it was filed before or

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**Reasoning:** Regulation 30A and Section 12A of the IBC differentiate between applications filed before

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**Interpretation:** The date of filing the application for withdrawal by the IRP is the determining

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**Application:** Since the Form FA was filed on 14.11.2024, after the CoC was constituted on

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## Parties

- **Judges:** Rakesh Kuma…; Jatindranat…
- **Appellants:** Riju Ravi…; BOARD OF CONTROL…; +2 more
- **Respondents:** Think and Learn…; Pankaj Sriv…; +1 more
- **Other parties:** Aditya Birla…; Incred Financial…; +2 more
- **Advocates:** Arun Kath…; Abhijeet…; +35 more

## Timeline

- **16.07.2024 — CIRP Admi…**: Think & Learn Pvt. Ltd. admitted…
- **16.07.2024 — IRP Appoi…**: Mr. Pankaj Srivastava appointed as the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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