The Supreme Court on Monday, July 21, dismissed the petitions filed by the BCCI and Riju Ravindran, brother of Byju Ravindran, seeking withdrawal of insolvency proceedings against Byju. The court also refused to consider the settlement between the crisis-hit edtech company and the BCCI.
A bench of Justices JB Pardiwala and R Mahadevan refused to interfere with the April 17 order of the NCLAT. The tribunal had said that since the settlement proposal was filed after the formation of the CoC, it required approval under Section 12A of the Insolvency and Bankruptcy Code.
Earlier in February 2025, the National Company Law Tribunal (NCLT) had directed the petitioners to place their settlement proposal before the new CoC, in which US-based Glas…