The Supreme Court on May 29 issued notice in set of appeals challenging the National Company Law Appellate Tribunal’s (NCLAT) decision allowing insolvency proceedings against embattled edtech giant Byju’s parent company, Think & Learn Pvt Ltd. The apex court sought responses on petitions filed by the Board of Control for Cricket in India (BCCI) and Byju’s founder Riju Raveendran, who argued against the insolvency trigger, calling it erroneous and damaging to the company’s future.
NCLT had refused to allow BCCI’s withdrawal of an insolvency case against Think & Learn Pvt Ltd (Byju’s parent company) without prior approval of the Committee of Creditors (CoC).
The appeals were listed before a bench of Justices Vikram Nath and…
