The CCI approval paves way for the shares of ITC Hotels to be listed separately. NCLT has directed ITC to convene a meeting of shareholders on June 6 to consider the proposed demeger.
The lenders, who have filed their insolvency plea through US-based non-bank loan agency Glas Trust Company LLC, told the tribunal that Byju s was borrowing more money in exchange for its shares
The appellate tribunal upheld an order of NCLT Mumbai approving the plan, and rejected the objections raised by creditors including ICICI Prudential Venture Capital Fund.