Supreme Court Stays NCLAT Verdict on Byju's-BCCI Dues Settlement

The Supreme Court has put a hold on the NCLAT's decision to approve a Rs 158.9 crore settlement between Byju's and the BCCI. The court issued notices to Byju's on a plea from US-based creditor Glas Trust Company LLC and asked BCCI to keep the settlement amount in a separate account.

On Wednesday, the Supreme Court stayed the National Company Law Appellate Tribunal's (NCLAT) approval of the Rs 158.9 crore dues settlement between edtech giant Byju's and the Board of Control for Cricket in India (BCCI).

A bench, led by Chief Justice D Y Chandrachud and including Justices J B Pardiwala and Manoj Misra, also halted the NCLAT's decision to set aside insolvency proceedings against Byju's.

The court issued notices to Byju's following a plea from US-based creditor Glas Trust Company LLC against the NCLAT ruling. Additionally, the bench ordered the BCCI to keep the Rs 158.9 crore received from Byju's in a separate account.

(With inputs from agencies.)