Supreme court bench headed by CJI DY Chandrachud sets aside order by the National Company Law Tribunal that offered Byju's relief in insolvency proceedings filed by BCC

The Supreme Court today (October 23) set aside the order of the National Company Law Appellate Tribunal which closed the insolvency proceedings against ed-tech company Byju's (Think and Learn Pvt Ltd) accepting a settlement between it and the Board of Control for Cricket in India (BCCI) for about Rs 158 crores.

The Supreme Court on Wednesday set aside the settlement reached between Byju’s and the Board of Control for Cricket in India (BCCI), effectively reviving the insolvency proceedings against the embattled ed-tech company.

The Supreme Court of India set aside the National Company Law Appellate Tribunal’s verdict and approved Byjus’s Rs 158.9 crore payment dues settlement with the BCCI

India’s top court struck down a bankruptcy tribunal’s order that allowed Byju’s to settle debts with a key creditor, pushing the online tutor back firmly into the insolvency process.

Earlier in August, the NCLAT had granted relief to BYJU's by setting aside the insolvency proceedings against it after approving its Rs 158.9 crore dues settlement with the BCCI.

Today, Wednesday, October 23, the Supreme Court has set aside the verdict of the National Company Law Appellate Tribunal (NCLAT) that had halted the insolvency proceedings against EdTech company BYJU'S.

The Supreme Court on Wednesday set aside the National Company Law Appellate Tribunal's verdict that had stopped insolvency proceedings against embattled ed-tech firm Byju's. A bench headed by Chief Justice DY Chandrachud also reversed the order of the NCLAT approving Byju's Rs 158.

The Supreme Court of India on Wednesday has set aside the National Company Law Appellate Tribunal's (NCLAT) order that approved a settlement of Rs 158.9 crore to be paid by edtech giant Byju's to the Board of Control for Cricket in India (BCCI).