MUMBAI: In a widely expected step, Byju’s has moved the National Company Law Appellate Tribunal (NCLAT), challenging a court order which allowed insolvency proceedings to be initiated against the once high flying decacorn startup. Byju’s, sources said, has sought an urgent hearing on the matter. The Chennai bench of NCLAT may take up the matter as early as next week.
Acting on a plea filed by the Board of Control for Cricket in India (BCCI) against the company over non-payment of dues amounting to Rs 159 crore, the Bengaluru bench of the National Company Law Tribunal (NCLT) earlier this week admitted Byju’s parent Think & Learn to the corporate insolvency resolution process. The order essentially means that the startup’s founder…
Acting on a plea filed by the Board of Control for Cricket in India (BCCI) against the company over non-payment of dues amounting to Rs 159 crore, the Bengaluru bench of the National Company Law Tribunal (NCLT) earlier this week admitted Byju’s parent Think & Learn to the corporate insolvency resolution process. The order essentially means that the startup’s founder…
