SC reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju’s

The Supreme Court on Thursday reserved its verdict on a plea of a US firm against the NCLAT order stopping insolvency proceedings against ed-tech firm Byju’s.

A bench headed by Chief Justice D Y Chandrachud asked the insolvency resolution professional (IRP) to maintain status quo till the apex court delivers its judgment in the matter.

The bench, also comprising Justices JB Pardiwala and Manoj Misra, considered the plea of US firm Glas Trust Company LLC and asked the IRP not to proceed with the committee of creditor’s meeting to deal with the Byju’s case.