The Supreme Court on Thursday (August 22) refused to stay the meeting of the Committee of Creditors formed by the Resolution Professional in relation to the insolvency resolution of ed-tech firm Byju’s.
Although Senior Advocate Dr Abhishek Manu Singhvi (for Byjus) and Solicitor General of India Tushar Mehta (for the BCCI) made fervent and repeated submissions to stay the CoC meeting, the Court was not persuaded.
On August 14, the bench led by CJI DY Chandrachud comprising Justices JB Pardiwala and Manoj Misra had stayed the order of the National Company Law Appellate Tribunal (NCLAT) which upheld the settlement between Byjus and the Board of Control of Cricket in India (BCCI) in relation to the former’s Rs 158 crore dues to the latter….
