The National Company Law Tribunal (NCLT) today ordered disciplinary action against the interim resolution professional (IRP) of Byju’s even as it reinstated Glas Trust and Aditya Birla Finance as the edtech firm’s financial creditors.

The tribunal directed the Insolvency and Bankruptcy Board of India (IBBI) to initiate disciplinary proceedings against the IRP Pankaj Srivastava. This came after Srivastava excluded Glas Trust and Aditya Birla Finance from the committee of creditors (CoC) of the beleaguered edtech firm. Among the two, Aditya Birla Finance alleged that it was classified as an operational creditor while Glas Trust had contended that it was ousted from the lenders body.

“The actions and decisions taken by the IRP are prejudicial to the interests of the corporate insolvency resolution process (CIRP) outlined by the Insolvency and Bankruptcy Code (IBC), 2016, and to stakeholders… the above conduct on the part of the IRP needs to be dealt with by way of disciplinary proceedings by the IBBI,” the bench of judicial member K Biswal and technical member Ravichandran Ramaswamy said in the order.

“The conduct of the IRP in the present case has been filed with the intent to mislead the tribunal’’, it added.

In September, Srivastava was accused of engaging in “fraudulent actions’’, in removing the two from the CoC. Consequently, they had filed a petition with the NCLT challenging his decision.

“Its order will mean that both the entities will now be a part of the CoC which will have to be reconstituted.”