In a significant setback for the beleaguered edtech company BYJU’S, the Supreme Court (SC) has declined to stay the meeting of the Committee of Creditors (CoC) organized by the resolution professional handling the firm’s insolvency proceedings. This decision follows ongoing legal battles related to the company’s financial distress.
Supreme Court Decision and Legal Proceedings
The Supreme Court’s decision came on Thursday amidst ongoing insolvency proceedings. Abhishek Manu Singhvi, representing BYJU’S, and Solicitor General of India Tushar Mehta, who appeared on behalf of the Board of Control for Cricket in India (BCCI), sought to halt the CoC meeting. Singhvi argued that the CoC was “hastily” assembled, with a significant…
