India, July 23 -- The National Company Law Tribunal (NCLT) has stayed the insolvency bidding process of embattled edtech startup BYJU'S parent Think & Learn Pvt Ltd until the next hearing on August 31.

The tribunal's Bengaluru bench directed the insolvency resolution professional (IRP) not to issue Form G, the document inviting expressions of interest from prospective applicants. Thus, the list of potential bidders can not be determined until further orders.

Important to highlight that the tribunal has not halted the insolvency proceedings itself. While the corporate insolvency resolution process will continue, the dispute over the lenders' claim is currently adjudicated.

The NCLT's order came in response to a petition by cofounders By...