The suspended directors of embattled edtech firm Byju’s have approached the bankruptcy appeals court to prevent its creditors from deciding on a ₹158 crore settlement with India’s cricket board.
Byju’s Committee of Creditors (CoC) includes opposing lenders US-based Glas Trust Llc. and Aditya Birla Finance.
Riju Raveendran, a former director of Byju’s and younger brother of founder Byju Raveendran, argued before the National Company Law Appellate Tribunal (NCLAT) on Wednesday that the settlement with the Board of Control for Cricket in India (BCCI) had been finalized before the CoC was constituted.
The Bengaluru bench of the National Company Law Tribunal (NCLT) had on 10 February directed BCCI to submit the ₹158 crore…
