New Delhi: The Supreme Court on Tuesday declined a plea by Byju’s to prevent the resolution professional of the bankrupt edtech company from constituting the committee of creditors till the top court further decides on the case.
Though the apex court denied the interim relief sought by Byju’s and the Board of Control for Cricket in India (BCCI), it has agreed to hear the case in detail on 22 August.
On 14 August, the Supreme Court revived the insolvency case against Byju’s, suspending the National Company Law Appellate Tribunal’s (NCLAT) order that had quashed insolvency proceedings against the company.
The court also directed the BCCI, an operational creditor, to deposit the settlement amount of ₹158 crore in a separate escrow…
