Notably, the NCLAT had earlier closed insolvency proceedings against Byju’s after it accepted a settlement between the ed-tech firm and the Board of Control for Cricket in India (BCCI).
Before the Supreme Court, the BCCI’s counsel too urged the Court to stay the CoC’s operations.
“Let meeting of COC be deferred or stayed.. How can this 98 percent decide anything..?” argued Solicitor General Tushar Mehta, on behalf of the BCCI.
He reiterated that it would amount to allowing the appeal if the CoC process (and by extension the insolvency proceedings) are not stayed.
“Equities must be balanced,” he urged.
The Court, however, maintained that it would not pass any stay order against the CoC for now and that a decision would be taken after…
