SC refuses to halt operations of CoC in edtech major Byju’s insolvency case

The Supreme Court on Thursday refused to stay the operations of the Committee of Creditors (CoC) formed in the insolvency resolution process against ed-tech company Byju’s.

A Committee of Creditors (CoC) is a group of people who represent a company’s creditors during a bankruptcy proceeding or insolvency process.

The apex court had on August 14 revived the insolvency process against Byju’s. It had stayed the August 2 order of the National Company Law Appellate Tribunal (NCLAT) allowing the ed-tech company’s approximately Rs 158.9 crore dues settlement with the Board of Control for Cricket in India (BCCI).