Byju’s vs BCCI row: Edtech platform, cricket board reach settlement

Insolvency appellate tribunal NCLAT on Wednesday deferred its decision on the settlement between Byju’s and cricket board BCCI after its US-based creditor alleged ’round-tripping’ of the money by the edtech firm’s founder.

The Chennai bench of NCLAT has asked the now-suspended promoters of Byju’s to furnish an undertaking by Thursday, that over Rs 158 crore to be paid by Riju Raveendran (brother of Byju’s founder Byju Raveendran) is not tainted and not against the order passed by a US-based court.