Supreme Court rejects BCCI and Riju Raveendran’s challenge to NCLAT ruling on Byju’s insolvency case. KK Venugopal slams the dismissal mid-argument as “arbitrary.”
The Supreme Court of India has accepted the appeal by BYJU’S promoters against the NCLAT’s refusal to withdraw insolvency proceedings linked to a Rs. 158 crore settlement with BCCI. Notices have been issued to relevant parties, with the next hearing scheduled for July 21, where interim relief may be considered.
Lenders have accused Byju’s former management of attempting to dilute Think and Learn’s stake in Aakash, stressing its crucial role for the company’s value. The National Company Law Tribunal is involved, with several legal representatives addressing ongoing insolvency claims and management control over Aakash, amid ongoing disputes and pending applications.
![[Byju's Insolvency Case] Resolution Professional (RP) Are Creating 'Chaos': Creditor To NCLT](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/08/image-44.png?resize=447%2C367&ssl=1)
