New Delhi, Feb. 20 -- Suspended directors ofembattled edtech firm Byju's approached the bankruptcy appeals court to prevent its creditors from deciding on a Rs.158-crore settlement with India's cricket board. Byju's Committee of Creditors (CoC) includes US-basedGlas Trust Llc. and Aditya Birla Finance.
Riju Raveendran, a former director of Byju's and the younger brother of founder Byju Raveendran, told the National Company Law Appellate Tribunal (NCLAT) on Wednesday that the settlement with the Board of Control for Cricket in India (BCCI) had been finalized before the CoC was constituted.
The Bengaluru bench of the National Company Law Tribunal (NCLT) had on 10 February directed BCCI to submit the Rs.158 crore settlement plea to the CoC f...