The National Company Law Tribunal (NCLT) on Monday directed the Board of Control for Cricket in India (BCCI) to submit its application to withdraw the insolvency plea it had filed against Think & Learn Private Limited, the parent company of ed-tech giant Byju’s. The move comes as part of the ongoing legal dispute between the two parties.
The NCLT bench, consisting of Judicial Member K Biswal and Technical Member Ravichandran Ramaswamy, disposed of the application and instructed BCCI to submit the withdrawal request to the company’s Committee of Creditors (CoC). The bench further clarified that it is now the responsibility of the CoC to decide on the request to withdraw the corporate insolvency resolution process (CIRP) against…
