The Supreme Court on Monday upheld an order rejecting the appeals of the BCCI and Byju’s co-founder Riju Raveendran seeking withdrawal of insolvency proceedings against his company.
A bench comprising Justices J B Pardiwala and R Mahadevan dismissed the appeals filed by the Board of Control for Cricket in India (BCCI) and Raveendran challenging the National Company Law Appellate Tribunal (NCLAT) verdict on April 17.
Sharing thoughts on the verdict, the counsel representing Byju’s founders expressed disappointment.
An official statement issued by Byju’s read, “The termination would have benefitted millions of students who are being deprived of BYJU’S learning system, and thousands of employees.”
It added, “We are examining the…