The Supreme Court in India on Tuesday refused to restrain the Interm resolution professional (IRP) of debt-ridden Think & Learn Pvt Ltd, the parent of online educational services company Byju's, from constituting a committee of creditors (CoC), the Economic Times of India reported. A bench led by Chief Justice DY Chandrachud agreed to hear the case in detail on Thursday, including the bankrupt edtech company’s request to stall the formation of CoC.

The bankruptcy court in Kolkata has approved the Simplex Projects revival plan submitted by its promoter Sudarsshhan Das Mundhra, the Economic Times of India reported. Before the National Company Law Tribunal (NCLT) nod, the company’s lenders approved the plan with 99.51% voting in favour of Mundhra’s resolution plan. The plan involves a proposal to pay Rs 235.28 crore against the total admitted liabilities of Rs 2,108.49 crore. The Kolkata-based infrastructure developer is a medium enterprise under the Micro, Small, and Medium Enterprises Development Act, 2006.

Synlait Milk said on Tuesday it aims to raise NZ$217.8 million ($133.34 million) from its top two investors in a bid to reduce its debt, a failure of which could lead to the New Zealand-based dairy producer's insolvency, Reuters reported. Synlait will issue shares worth NZ$185 million to Bright Dairy & Food Co at NZ$0.6 apiece, raising the Chinese company's stake in Synlait to 65.25% from 39.01%.

Thailand’s central bank held its benchmark interest rate at a decade high again, amid renewed political uncertainty and some calls to start easing to aid the economic recovery, the Wall Street Journal reported. The Bank of Thailand said Wednesday that its policy committee voted six to one to maintain its one-day repurchase rate at 2.50%. One member voted to cut the policy rate by 25 basis points, “to reflect Thailand’s lower potential growth as a result of structural challenges,” and help ease debt-servicing burdens for borrowers, it said.

Indonesia’s central bank kept interest rates on hold for a fourth straight meeting, declining to join some of its peers in Asia who have kicked off their easing cycles ahead of the Federal Reserve, the Wall Street Journal reported. Bank Indonesia kept its benchmark seven-day reverse repo rate at 6.25% on Wednesday, as widely anticipated. All seven economists polled by The Wall Street Journal had expected the Indonesian bank to maintain policy settings untouched, though some analysts saw a slim chance of a cut as inflation cools and the rupiah steadies.

China told some trust companies to stop raising money from individuals to fund local government financing vehicles in its latest effort to curb growing financial risks, Bloomberg News reported. The National Financial Regulatory Administration (NFRA) recently banned some lower-rated trust firms from selling wealth products underpinned by LGFVs on concerns of potential defaults. It’s unclear how many of China’s 67 trust firms received below-par ratings in the watchdog’s latest assessment.

A mainland Chinese court accepted a liquidation application filed against a China Evergrande Group unit earlier this month, triggering a formal legal process that ratchets up the pressure on the defaulted developer to either restructure or face liquidation in its main base of operations under a worst-case scenario, Bloomberg News reported. The Intermediate People’s Court of Guangzhou City, where Evergrande is based, accepted the application filed against Guangzhou Kailong Real Estate as of Aug. 9, according to a Hong Kong stock exchange filing late Monday.

China is considering a new funding option for local governments to buy unsold homes after a series of rescue packages failed to prop up the market, Bloomberg News reported. The latest proposal would allow local governments to fund their home purchases by issuing so-called special bonds, the proceeds of which are currently restricted to uses including infrastructure and environmental projects.

Turkey’s central bank extended its interest-rate pause for a fifth month and said it was placing even more importance on expectations for prices before discussing easing, Bloomberg News reported. The Monetary Policy Committee, led by Governor Fatih Karahan, kept the one-week repo rate at 50% on Tuesday. “The alignment of inflation expectations and pricing behavior with projections has gained relative importance for the disinflation process,” the MPC said. The lira slipped 0.3% to 33.84 per US dollar at 3:30 pm in Istanbul.