Insolvency-quashing order: US lenders to Byju’s file appeal in SC

Some overseas lenders to edtech startup Byju’s have appealed to the Supreme Court (SC) opposing a verdict that had quashed insolvency proceedings against the embattled firm.

US-based Glas Trust, representing some lenders of a Byju’s group company, on August 7 filed an appeal before the apex court, challenging the National Company Law Appellate Tribunal (NCLAT)’s verdict that allowed Byju’s and Board of Control for Cricket in India (BCCI), the cricket control board of the country, to settle a $19 million payment case.