Bengaluru, April 19 -- The National Company Law Appellate Tribunal (NCLAT) has dismissed the appeals filed by Riju Raveendran and the Board of Control for Cricket in India (BCCI) seeking withdrawal of insolvency proceedings against Byju's and consider the settlement between the debt-ridden edtech firm and the top cricket body.
The petitioners had challenged a February 10, 2025 order of the Bengaluru bench of the National Company Law Tribunal (NCLT) that had directed BCCI to withdraw its insolvency plea against Byju's and table its settlement proposal before the Committee of Creditors (CoC) of Think and Learn Private Limited, the parent company of the edtech firm.
A two-member Chennai bench of the NCLAT comprising Justice Rakesh Kumar Jain...