Byju's Triumphs as NCLAT Ends Insolvency Proceedings

Byju's hailed the National Company Law Appellate Tribunal's (NCLAT) decision to set aside insolvency proceedings against the edtech firm as a major victory. The NCLAT's approval of a Rs 158 crore dues settlement with the BCCI ensures the company's continuity under the leadership of founder Byju Raveendran.

Byju's described the National Company Law Appellate Tribunal's decision on Friday to nullify insolvency proceedings against the company as a significant win for the edtech firm and its founders. The tribunal endorsed the company's Rs 158 crore settlement with the BCCI, effectively allowing founder Byju Raveendran to regain control.

Founder Byju Raveendran expressed his satisfaction with the NCLAT order, calling it more than just a legal triumph, but a testament to the tireless efforts of the BYJU'S team over the past two years.

Raveendran highlighted the dedication and sacrifices of the founding team and employees, who have shown exceptional resilience amid unprecedented challenges. He reaffirmed the company's commitment to delivering high-quality education globally.

(With inputs from agencies.)