Kerala HC rejects plea to probe irregularities in Byju’s insolvency

A Division Bench of the Kerala High Court recently dismissed an appeal by Voizzit Technology Private Limited to investigate alleged misconduct by Interim Resolution Professional and others in the insolvency proceedings of Think and Learn Private Ltd., popularly known as Byju’s, an ed-tech company. Voizzit has been in a legal battle with Byju over ownership of their assets since the ed-tech company defaulted on Voizzit’s $100 million loan.

The appeal was filed against the order of Justice G. Gireesh, who refused to direct the Central Bureau of Investigation, the Enforcement Directorate and the National Investigation Agency to investigate alleged irregularities such as “involvement of foreign entities and jurisdictions in manipulation of insolvency proceedings, diversion and misappropriation of assets of Indian origin, including unauthorized control of critical digital property and outside India” and mining capital.

Two reasons

A single bench of the Kerala High Court held that the petitioners had approached the wrong forum for filing the suit and that it was not maintainable. Two reasons were given for this decision; first, the petitioner filed a public interest litigation seeking an investigation into the “unfair practices”. When the case was withdrawn, they did not seek permission to file a fresh application and secondly, they also registered a complaint at the High Grounds police station in Bengaluru, where the Karnataka High Court stayed the investigation.

A Division Bench of Justices K. Natarajan and Johnson John agreed with the Single Bench’s “non-interference” order, saying it cannot interfere with proceedings already pending in the Karnataka High Court.

Earlier, Voizzit had also filed a complaint with the CBI and ED seeking an investigation into alleged violations of the Foreign Exchange Management Act, 1999, cross-border fraud, criminal conspiracy and abuse of insolvency proceedings after the Karnataka High Court ordered a stay on the investigation by the Bengaluru police.

During 2018 and 2022, Byju’s expanded globally as an ed-tech giant with overseas investments exceeding $1.42 billion and operated with India as its base. The company is currently undergoing insolvency proceedings with the Insolvency and Bankruptcy Board of India.

Published – 14 Jun 2026 20:47 IST