Mumbai: The Supreme Court of India has dismissed an appeal filed by Byju Raveendran challenging the April 17 judgment of the National Company Law Appellate Tribunal (NCLAT) concerning the settlement between ed-tech major Byju’s and the Board of Control for Cricket in India (BCCI).
A bench comprising Justices JB Pardiwala and KV Viswanathan refused to interfere with the NCLAT verdict. The Chennai Bench of NCLAT had earlier held that the BCCI settlement could not be treated as a pre-Committee of Creditors (pre-CoC) settlement. The tribunal directed that the settlement proposal, as well as BCCI’s application for withdrawal of the Corporate Insolvency Resolution Process (CIRP), be placed before the Committee of Creditors (CoC)…