Byju's Founder Challenges Insolvency Proceedings in NCLAT

Byju's founder, Byju Raveendran, challenged the insolvency proceedings against Think & Learn at the NCLAT. The hearing was adjourned as a member of the bench recused himself. The case will be reassigned by NCLAT Chairman Justice Ashok Bhushan. The BCCI initiated the proceedings over a Rs 158.9 crore default.

Byju's founder, Byju Raveendran, faced a delay in his plea against the insolvency proceedings of Think & Learn as the NCLAT adjourned the hearing on Monday due to a judge's recusal.

NCLAT Chairman Justice Ashok Bhushan will reassign the case to a different bench after Justice Sharad Kumar Sharma recused himself, citing previous involvement with the BCCI.

The BCCI had approached the NCLT concerning a Rs 158.9 crore default by Think & Learn, initiating Corporate Insolvency Resolution Proceedings against the former startup giant valued at USD 22 billion. Raveendran's challenge is now pending at multiple judicial levels.