The Supreme Court has agreed to consider Byju’s plea regarding the revival of insolvency proceedings against the company on August 22. This comes after Byju’s raised concerns that the Court’s recent stay order on a settlement with the Board of Control for Cricket in India (BCCI) is being misinterpreted as a revival of the insolvency process.
The edtech giant and the BCCI had jointly sought a stay on the revival of insolvency proceedings, following an earlier decision by the National Company Law Appellate Tribunal (NCLAT) that allowed for a potential settlement. However, the Supreme Court has refused to grant interim relief and declined to restrain the Resolution Professional (RP) from constituting the Committee of Creditors (COC) at this…
