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Byju’s vs BCCI: Supreme Court stays NCLAT settlement order

New Delhi, August 14 The Supreme Court on Wednesday stayed the verdict of insolvency appellate tribunal NCLAT setting aside the insolvency proceedings against ed-tech major Byju’s and approving its Rs 158.9 crore dues settlement with Indian cricket board BCCI. The...

PTI

Updated At : 09:25 AM Aug 15, 2024 IST

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The Supreme Court on Wednesday stayed the verdict of insolvency appellate tribunal NCLAT setting aside the insolvency proceedings against ed-tech major Byju’s and approving its Rs 158.9 crore dues settlement with Indian cricket board BCCI. - File photo

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New Delhi, August 14

The Supreme Court on Wednesday stayed the verdict of insolvency appellate tribunal NCLAT setting aside the insolvency proceedings against ed-tech major Byju’s and approving its Rs 158.9 crore dues settlement with Indian cricket board BCCI.

The court prima facie termed the NCLAT verdict as “unconscionable” and stayed its operation while issuing notices to Byju’s and others on an appeal of the ed-tech firm’s US-based creditor Glas Trust Company LLC against the judgement of the insolvency appellate tribunal. — PTI

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