BCCI plans to drop insolvency case against Byju's, facing opposition from the ed-tech's lenders.

The BCCI plans to withdraw its insolvency case against ed-tech company Byju's at the National Company Law Tribunal (NCLT) following a Supreme Court decision that quashed a previous settlement. The court found a "grave deviation from procedure" in allowing a ₹158 crore settlement. The case is set for a hearing on November 18, with Byju's lenders opposing the withdrawal, arguing the committee of creditors must decide on the funds first.

November 12, 2024
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