The Board of Control for Cricket in India (BCCI) and Riju Ravindran, the co-founder of Byju’s, are embroiled in a legal battle over a National Company Law Tribunal (NCLT) order impacting the insolvency resolution of the popular edtech company. This dispute centers on a Rs 158-crore settlement deal that was reached between BCCI and Think & Learn Pvt. Ltd. (the parent company of Byju’s) before the constitution of a creditors’ committee.
Senior advocate CK Nandakumar, representing BCCI, argued before the National Company Law Appellate Tribunal (NCLAT) that the tribunal should have made the decision regarding the settlement instead of delegating it to the committee of creditors (CoC). The BCCI initiated the insolvency…
