Supreme Court sets aside tribunal order stopping insolvency process against Byju’s

The Supreme Court on Wednesday set aside National Company Law Appellate Tribunal's verdict that had stopped insolvency proceedings against embattled ed-tech firm Byju's.

A bench headed by Chief Justice D Y Chandrachud also reversed the order of the NCLAT approving Byju's Rs 158.9 crore dues settlement with the Board of Control for Cricket in India (BCCI).

It directed the cricket board to deposit the settlement amount of Rs 158.9 crore with a committee of creditors.