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The Supreme Court of India has overturned a National Company Law Appellate Tribunal (NCLAT) ruling that permitted a settlement between Byju’s and the Board of Control for Cricket in India (BCCI) regarding a Rs 158 crore dispute. The court criticized the NCLAT for bypassing legal procedures in its decision. Consequently, the Supreme Court has mandated that the disputed amount be deposited with the lenders' panel, effectively halting the insolvency process against Byju’s. This ruling was issued on October 23, 2024, and underscores the ongoing legal challenges faced by the edtech company amid its financial difficulties.
The SC reversed a ruling by NCLAT on Wednesday, allowing a payment dispute settlement between BCCI and Byju’s. The court blamed NCLAT for bypassing legal procedures in the Rs 158 crore settlement. @djmaanav writes: https://t.co/QPrm6Wrdr7
24/10/24 - Saroj Vs. Iffco-Tokio General Insurance Company [Civil Appeal Nos.________ of 2024 arising out of SLP (C) Nos. 23939-23940 of 2023]: https://t.co/AZ99NbdUpU #Civil #Appeal #SupremeCourt
24/10/24 - N. Thajudeen Vs. Tamil Nadu Khadi and Village Industries Board [Civil Appeal No. 6333 of 2013]: https://t.co/j4aLGhbWOU #Civil #Appeal #SupremeCourt
