The Supreme Court on Monday dismissed an appeal by the Board of Control for Cricket in India, an operational creditor, seeking withdrawal of the corporate insolvency resolution process (CIRP) of Think & Learn, the parent company of online education services company Byju’s.
The apex court also dismissed another appeal of Byju’s co-founder Riju Raveendran, who also wanted withdrawal of the insolvency proceedings against Think & Learn.
The National Company Law Appellate Tribunal (NCLAT) and the Bengaluru bench of the National Company Law Tribunal (NCLT) had directed the resolution professional to present the withdrawal application before the Committee of Creditors (CoC) of the debt-laden company.
The cricket board told the SC that the NCLAT…