Embattled edtech firm Byju’s parent Think & Learn appeared close to coming out of its insolvency proceedings on November 18 when the Board of Control for Cricket in India (BCCI) requested the National Company Law Tribunal (NCLT) to consider its application to withdraw its plea against the firm. However, the matter extended further when on February 10 the NCLT directed Think & Learn’s insolvency resolution professional (RP) to submit the Indian cricket board’s withdrawal application before the company’s committee of creditors (CoC). ET takes a look at why the settlement remains unresolved and founder Byju Raveendran is facing an uphill task in regaining control of the firm.
Why did the NCLT send BCCI’s withdrawal petition to…
