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The Supreme Court has declined to halt the operations of the Committee of Creditors (CoC) involved in the insolvency resolution process of the Ed-tech firm Byju’s. The CoC represents the creditors of a company during bankruptcy or insolvency proceedings.
The apex court had previously reinstated the insolvency process against Byju’s on August 14, overturning an August 2 decision by the National Company Law Appellate Tribunal (NCLAT) that had permitted the settlement of Byju’s approximately INR 158.9 crore debt with the Board of Control for Cricket in India (BCCI).
A Bench led by Chief Justice of India (CJI) DY Chandrachud, alongside Justices…
