In A Blow To BYJU’S, NCLAT Says Creditors Have ‘Liberty’ To Decide On INR 158 Cr Settlement With BCCI

Appellate Tribunal NCLAT has disposed of a petition filed by Riju Ravindran seeking to block lenders of BYJU’S from deciding on a INR 158 Cr settlement with the BCCI

This is a major blow to BYJU’S as its settlement proposal will now be placed before the Committee of Creditors (CoC), comprising GLAS Trust and Aditya Birla Finance

GLAS had previously opposed the settlement, saying the money paid to the BCCI was “tainted” and a case of “round tripping”.

The National Company Law Appellate Tribunal (NCLAT) has…