# In the matter of Think & Learn Pvt. Ltd.

> NCLT judgment dated 2024-12-11. Citation: TCN-2024-NCLT-00071. The case involves multiple IAs (Interlocutory Applications) related to a Corporate Insolvency…

- **Court:** NCLT
- **Order date:** 11 Dec 2024
- **Citation:** TCN-2024-NCLT-00071
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/think-learn-pvt-ltd-c75dc14f

## Summary

### Background

The case involves multiple IAs (Interlocutory Applications) related to a Corporate Insolvency Resolution Process (CIRP) initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016. The RP (Resolution Professional) is addressing objections raised by the Registry and financial creditors regarding the constitution of the Committee of Creditors (CoC). The Supreme Court has also been involved, setting aside an order by the NCLAT regarding a settlement between the BCCI and the promoters of the Corporate Debtor. The CIRP has resumed, and the BCCI has requested the Applicant to act on its withdrawal Application.

## Facts

The Board of Control for Cricket in India (BCCI) initiated a CIRP against Think & Learn Pvt. Ltd. The RP filed an IA to record the CoC's constitution, but the Registry raised objections. The RP formed the CoC provisionally, subject to verification of claims. GLAS Trust and Aditya Birla Finance filed objections. The Supreme Court set aside an NCLAT order approving a settlement between the BCCI and the promoters, resuming the CIRP. The BCCI requested the Applicant to act on its withdrawal Application. The RP has filed a compliance affidavit. A suspended director represented himself in a Board Meeting of AESL. The RP reconstituted the CoC, considering a claim as 'contingent' due to pending adjudication in the New York Supreme Court.

## Issues and analysis

### Issue 1: Whether the RP has properly constituted the Committee of Creditors (CoC) in compliance with the …

**Ratio:** Regulation 17(1) of the IBBI CIRP Regulations, 2016, mandates the constitution of the

…

**Reasoning:** The court is examining whether the RP followed the correct procedure in forming the CoC

…

**Interpretation:** The interpretation focuses on the procedural requirements for forming and

…

**Application:** The ratio and reasoning are applied to the specific facts of the case,

…

## Parties

- **Judges:** K. Bi…; Manoj Kumar…
- **Appellants:** BOARD OF CONTROL…
- **Respondents:** Think and Learn…; M/s. Think &…

## Timeline

- **2024-08-22 — IA Filed…**: The RP of the Corporate Debtor filed an IA vide Diary No.01441 with E-filling…
- **2024-08-28 — Registry Raises…**: Registry raised certain objections on the said IA and informed the Applicant-RP to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

---

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-division-bench-court-i-chenn/think-learn-pvt-ltd-c75dc14f