# In the matter of Think & Learn Private Limited

> NCLT judgment dated 2025-01-29. Citation: TCN-2025-NCLT-01110. The case involves applications IA 660/2024 and IA 820/2024 filed in Company Petition (IB) No.…

- **Court:** NCLT
- **Order date:** 29 Jan 2025
- **Citation:** TCN-2025-NCLT-01110
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/think-learn-private-limited-b496a147

## Summary

### Background

The case involves applications IA 660/2024 and IA 820/2024 filed in Company Petition (IB) No. 149/BB/2023. IA 660/2024 was filed by Aditya Birla Finance Limited challenging its reclassification as an Operational Creditor. IA 820/2024 was filed by Glas Trust Company LLC challenging the reconstitution of the Committee of Creditors (CoC).

## Facts

The Tribunal admitted Think and Learn Private Limited into CIRP on 16.07.2024.

Aditya Birla Finance Limited filed a claim as a Financial Creditor for Rs. 47,12,00,000.

The NCLAT set aside the CIRP initiation on 02.08.2024, but the Supreme Court stayed the NCLAT order on 14.08.2024, reinstating the CIRP.

The IRP constituted a CoC on 21.08.2024, including Glas Trust Company LLC, Aditya Birla Finance Limited, Incred Financial Services Limited, and ICICI Bank Limited.

The IRP reclassified Aditya Birla Finance Limited as an Operational Creditor and reconstituted the CoC.

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## Issues and analysis

### Issue 1: Whether the IRP has the power to reconstitute the COC, without the leave of the Adjudicating …

**Ratio:** The IRP does not have adjudicatory power and cannot unilaterally change the status of a

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**Reasoning:** The Tribunal relied on precedents from NCLAT and the Supreme Court, which established

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**Interpretation:** The provisions of the IBC and related regulations do not grant the IRP the

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**Application:** The Tribunal found that the IRP's actions in reclassifying Aditya Birla Finance

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## Parties

- **Judges:** K. Bi…; RAVICHANDRAN…
- **Appellants:** ADITYA BIRLA…; GLAS Trust…
- **Respondents:** Think and Learn…; Pankaj Sriv…; +1 more
- **Other parties:** Incred Financial…; ICICI Bank…
- **Advocates:** Udaya H…; V. Srinivasa…; +14 more

## Timeline

- **16.07.2024 — CIRP Init…**: The Tribunal initiated CIRP against…
- **17.07.2024 — Public Annou…**: Public announcement was made…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-bengaluru/think-learn-private-limited-b496a147