Supreme Court Defers Interim Order in Byju's Insolvency Case

The Supreme Court has deferred an interim order in Byju's insolvency proceedings, with a final hearing set for August 27. This follows Byju's default on a Rs 158.9 crore payment related to a BCCI sponsorship deal. The court's decision impacts the company's ongoing insolvency process and creditor actions.

The Supreme Court on Thursday opted not to issue an interim order to halt meetings of the committee of creditors (CoC) in the ongoing insolvency proceedings against Byju's, the beleaguered ed-tech firm.

Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra indicated they would give a final hearing on the matter on August 27, leaving room for further developments.

The case, brought by US-based creditor Glas Trust Company LLC, resulted from Byju's default on a Rs 158.9 crore payment tied to a sponsorship agreement with the Board of Control for Cricket in India (BCCI).