Supreme Court Halts NCLAT's Byju-BCCI Settlement Over Rs 158 Crore Dues

The Supreme Court has stayed the National Company Law Appellate Tribunal's approval of a settlement between Byju's and the BCCI concerning unpaid dues of Rs 158 crore. The BCCI is directed to hold the amount in a separate account until the next hearing scheduled for August 23.

The Supreme Court intervened on Wednesday to stay the National Company Law Appellate Tribunal's (NCLAT) order that endorsed a settlement between Byju's and the Board of Control for Cricket in India (BCCI) over unpaid dues of Rs 158 crore. Chief Justice DY Chandrachud's bench halted the NCLAT's approval.

Pending further orders, the court instructed the BCCI to deposit the settlement amount of Rs 158 crore into a separate account until the next hearing date, set for August 23. Additionally, the court issued a notice to Byju's on the petition, which originated from Glas Trust Company LLC.

Earlier, the NCLAT had authorized the settlement between Byju Raveendran and the BCCI, allowing them to resolve the financial dispute. The Supreme Court's intervention puts a temporary hold on the agreement pending further review.

(With inputs from agencies.)