In a major setback for edtech giant Byju’s, the Supreme Court approved a Rs 158-crore settlement between Byju’s (Think and Learn Pvt Ltd) and the Board of Control for Cricket in India (BCCI) and referred it to the National Company Law Appellate Tribunal ( NCLAT) order set aside in India (BCCI). The court ruled that NCLAT had not followed the due process prescribed in the Insolvency and Bankruptcy Code (IBC).Setback for Byju’s as Supreme Court overturns NCLAT order on Rs 158-crore settlement with BCCI
In a major setback for edtech giant Byju’s, the Supreme Court approved a Rs 158-crore settlement between Byju’s (Think and Learn Pvt Ltd) and the Board of Control for Cricket in India (BCCI) and referred it to the National Company Law Appellate Tribunal ( NCLAT) order set aside in India (BCCI). The court ruled that NCLAT had not followed the due process prescribed in the Insolvency and Bankruptcy Code (IBC).
