Preserve emails in Byju's insolvency case: HC

BENGALURU : Granting limited indulgence, the Karnataka High Court Thursday passed an interim order directing the Resolution Professional in the M/s Think and Learn Private Limited , i.e., Byju's case, to preserve all the emails of conversations between all the stakeholders in the case at hand. These emails would be required for the Corporate Insolvency Resolution Process (CIRP) or investigation, as the case may be, the court said.

Justice M Nagaprasanna passed this order after hearing a petition filed by Byju Ravindran, one of the promoters and suspended director of the company. During the hearing, the petitioner’s counsel submitted that if emails were deleted, it would have an adverse effect as they are the primary evidence of the conversation or interaction between the company with regard to the subject matter pending before the National Company Law Tribunal (NCLT). He further added that those emails should not be permitted to be deleted as they are necessary for the purpose of investigation.

On the other hand, the govt advocate submitted that the investigation in a crime registered on the same issue by the High Grounds police has been stayed by a coordinate bench as some of the accused challenged the said proceedings. "Therefore, the state has not proceeded to continue the investigation in light of the interim order so granted. In that light, the prayers sought by the petitioner to expedite the investigation or the production of the case diary in the said crime, if considered, would run counter to the interim order granted by a coordinate bench," he further argued.

After hearing the matter, Justice Nagaprasanna noted that the other prayers in the petition, including minutes of the Committee of Creditors (COC) held on April 8, 2025, have to go before the appropriate authority. The judge further pointed out that the Supreme Court has clearly specified that the Insolvency and Bankruptcy Code (IBC) is a complete code by itself with adequate appellate remedy available for the aggrieved to call in question either before the NCLT or NCLAT.

"Therefore, those proceedings which the petitioners sought to challenge, i.e., minutes of the COC meeting or otherwise, have to be agitated only before the NCLT/NCLAT as the case may be. It is open to avail of that remedy. The remedy of filing a WP calling in question those proceedings is unavailable in light of the judgment of the Supreme Court," the judge further said while adjourning the hearing to April 21, 2025, for further consideration.