Feb 19, 05:08 PM

NCLAT Denies Stay on Byju's ₹158 Crore BCCI Settlement Review by Riju Raveendran

The National Company Law Appellate Tribunal (NCLAT) has declined to grant a stay on the Committee of Creditors' (CoC) review of Riju Raveendran's settlement offer with the Board of Control for Cricket in India (BCCI) related to Byju's. Raveendran, a suspended director at Byju's, sought to keep his ₹158 crore ($19 million) settlement from the edtech firm's creditors. The NCLAT's decision comes amid ongoing scrutiny of Byju's financial dealings, as the company faces significant challenges, including a bankruptcy order against an Indian tycoon linked to a £1 billion ($1.26 billion) debt, which he argues was wrongly issued. The tribunal's refusal to intervene allows the CoC to proceed with its review of the settlement offer, raising questions about the future of Byju's and its financial obligations.

#NCLAT #Committee of Creditors #CoC #Riju Raveendran #BCCI #Byju #Raveendran #Indian

Written with ChatGPT (GPT-4o mini).

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NCLAT Denies Stay on Byju's ₹158 Crore BCCI Settlement Review by Riju Raveendran

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