Suspended directors of the bankrupt edtech firm Byju’s have approached the National Company Law Appellate Tribunal (NCLAT), challenging a Bengaluru insolvency court’s decision to reinstate its lenders as financial creditors while failing to rule on its ₹158 crore settlement with the Board of Control for Cricket in India (BCCI).
The petition, filed by suspended director Riju Raveendran and current resolution professional Pankaj Srivastava before the Chennai bench of NCLAT, argues that the National Company Law Tribunal (NCLT) had reserved its 29 January order on both the settlement approval and the lenders’ challenge. However, the tribunal ruled only on the lenders’ plea, leaving the settlement unresolved.
The directors have also…
