Supreme Court questions NCLAT's decision to end Byju's insolvency with inadequate settlement.

The Supreme Court of India has questioned the National Company Law Appellate Tribunal's (NCLAT) decision to end insolvency proceedings against Byju's, an edtech firm. Chief Justice DY Chandrachud expressed concerns over Byju's settlement of only Rs 158 crore to the BCCI while neglecting Rs 15,000 crore owed to other creditors, including Glas Trust. The court may refer the case back to NCLAT for further review, citing insufficient reasoning in the original decision.

September 25, 2024
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