The National Company Law Appellate Tribunal (NCLAT) has ordered the National Company Law Tribunal (NCLT) to decide within a week whether the Board of Control for Cricket in India (BCCI) can withdraw its insolvency case against Byju’s.
The NCLAT gave this order while dismissing an appeal filed by Riju Raveendran, who challenged the reinstatement of Glas Trust and Aditya Birla Finance into Byju’s Committee of Creditors (CoC).
A panel led by Justice (Retd.) Rakesh Kumar Jain and Jatindranath Swain stated, “The NCLT is directed to decide the application (for withdrawal by BCCI) preferably in a week’s time. We have not made any observations on the facts while deciding this appeal.”
On 29th January, the NCLT had ordered disciplinary action…
