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Byju's said that a US court shunned its lenders' attempts to block its settlement with the Indian cricket board. Byju's suffered setbacks in the last few years, including boardroom exits, an auditor resignation, and a public spat with foreign investors https://t.co/MqyQAlaVkm https://t.co/ppYt1f03la
US bankruptcy court dismisses lenders’ plea against Byju’s-BCCI settlement Judge Brendan Shannon of the Delaware Bankruptcy Court declined to intervene in legal proceedings taking place in another country's judicial system. Read more 👇 https://t.co/UUfrKK7ydy #Byjus #BCCI
India's Byju's said that a US court has shunned its lenders' attempts to block its settlement with the Indian cricket board, calling it a 'win' for its 'turnaround efforts' in the country where it was once valued at $22 billion https://t.co/MqyQAlbt9U https://t.co/tj8hJksWtn
Byju's, an Indian educational technology company, is facing legal challenges from its US lenders over a settlement with the Board of Control for Cricket in India (BCCI) involving a Rs 158 crore payment dispute. The National Company Law Appellate Tribunal (NCLAT) in India approved the settlement, but Byju's US lenders are planning to challenge this decision in the Supreme Court. A US judge, Brendan Shannon of the Delaware Bankruptcy Court, refused to block the debt payment related to the settlement, advising the lenders to address their grievances in India. This decision is seen as a victory for Byju's, which has been undergoing significant challenges, including boardroom exits, auditor resignation, and disputes with foreign investors, as part of its turnaround efforts.
