Representational image of the Byju’s logo
| Photo Credit: Reuters
The Supreme Court on Wednesday (August 14, 2024) stayed the operation of a National Company Law Appellate Tribunal (NCLAT) decision which had allowed debt-ridden ed-tech firm Byju’s to pay a settlement amount of ₹158 crore to the Board of Control for Cricket in India (BCCI).
A three-judge Bench headed by Chief Justice of India D.Y. Chandrachud directed the BCCI to maintain the amount in a separate account.
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The order followed an appeal filed by the U.S.-based lender Glas Trust Company LLC, a financial creditor which said it had a claim of ₹8,500 crore over the ed-tech firm.
The Bench was urged by…
