NEW DELHI: The Supreme Court on Monday upheld its earlier order, rejecting appeals by the BCCI and Byju’s co‑founder Riju Raveendran to withdraw insolvency proceedings against Byju’s parent company, Think & Learn. A bench of Justices J.B. Pardiwala and R. Mahadevan dismissed both the BCCI’s and Raveendran’s challenges to the National Company Law Appellate Tribunal’s (NCLAT) April 17 verdict.
Previously, the Bengaluru bench of the National Company Law Tribunal (NCLT) had directed that the parties’ settlement proposal be placed before the newly formed Committee of Creditors (CoC), which includes US‑based Glas Trust, the trustee for Byju’s lenders owed $1.2 billion. The BCCI and Raveendran argued that their…