Supreme Court to Hear Byju's Promoters' Plea in Insolvency Case
The Supreme Court will hear Byju's promoters' plea concerning a settled payment with BCCI prior to insolvency proceedings. This follows the NCLAT's refusal to withdraw insolvency despite an agreement. The case involves an Rs 158 crore settlement and seeks to resolve the dispute with the involvement of international creditors.
- Country:
- India
The Supreme Court has agreed to hear a petition from the promoters of tech company Byju's challenging the continuation of its insolvency proceedings. The petition argues for upholding a settlement reached before the formal establishment of the Committee of Creditors (CoC) in the case.
Lawyers for the promoters are contesting a decision by the National Company Law Appellate Tribunal (NCLAT) in Chennai, which had denied a withdrawal of the insolvency process—even though a settlement had been finalized with the Board of Control for Cricket in India (BCCI) before the CoC came into effect.
A bench of Justices Vikram Nath and Sanjay Kumar issued notice to the respondents, including the BCCI, for their input, while noting that interim relief will be considered on July 21, 2025. The case involves a significant Rs 158 crore settlement and raises questions about cross-border insolvency proceedings and creditor rights.
(With inputs from agencies.)
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- Supreme Court
- Byju's
- insolvency
- petition
- BCCI
- NCLAT
- R176220192
- Vikram Nath
- Sanjay Kumar
- settlement
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