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Home / Business / Byjus Vs Bcci Supreme Court Stays Nclat Settlement Order

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

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

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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.

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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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