Supreme Court reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju’s

A bench headed by Chief Justice D.Y. Chandrachud asked the Insolvency Resolution Professional (IRP) to maintain the status quo till the apex court delivers its judgement on the matter.

The bench, also comprising Justices J.B. Pardiwala and Manoj Misra, considered the plea of U.S. firm Glas Trust Company LLC and asked the IRP not to proceed with the committee of creditor's meeting to deal with Byju's case.

While hearing the matter on Wednesday (September 25, 2024), the top court had questioned the verdict of the insolvency appellate tribunal NCLAT setting aside the insolvency proceedings against Byju's and approving its ₹158.9 crore dues settlement with the BCCI.