Byju’s proposed Rs 158 crore settlement with the Board of Control for Cricket in India remains unresolved, keeping the insolvency process around parent company Think & Learn in a state of uncertainty. The National Company Law Tribunal has paused the process of inviting buyers for Think & Learn while creditors continue to deliberate on the settlement. The creditor committee has met multiple times since March, including three meetings after a June 29 court order asking lenders to decide the matter quickly, but it has not reached a conclusion.
The settlement has become a decisive procedural issue. If creditors approve the settlement and the tribunal accepts it, the insolvency process against Think & Learn would end and the cricket board…