The Supreme Court also raised questions regarding the possibility of reaching a settlement outside the established procedures, particularly in relation to Regulation 30A of the Insolvency and Bankruptcy Code (IBC).

The Supreme Court reserved its verdict on a plea by Glas Trust Company LLC challenging the NCLAT order that set aside insolvency proceedings against Byju's. The court also maintained status quo, direc

The Supreme Court has reserved its verdict on a plea challenging NCLAT's decision to halt insolvency proceedings against Byju's. The bench, led by Chief Justice DY Chandrachud, has asked the insolvency professional to maintain the status quo until a final decision is made.

The Supreme Court on Thursday directed the insolvency resolution professional (IRP) to maintain status quo and not to hold any meeting of the committee of creditors (CoC) in the matter pertaining to insolvency proceedings against ed-tech firm Byju’s.

During the hearing, Byju’s financial troubles were a key focus, with the company reported to have suffered a loss of Rs 8,104 crore as of March 2022. The court also heard that Byju’s auditors resigned recently,

The Supreme Court has questioned whycrisis-hit ed-tech major Byju's chose to settle its dues only with the BCCI despite beingin Rs 15,000 crore debt.

The Supreme Court on Thursday reserved its verdict on the plea of Glas Trust, the administrative and collateral agent for the financial creditors of the corporate debtor Byju's Alpha Inc, challenging the legality of the National Company Law Appellate Tribunal's approval of the Rs 158-crore settlement between BCCI and Riju Raveendran,