Supreme Court questions verdict of NCLAT on insolvency proceedings against Byju’s

The Supreme Court on Wednesday questioned the verdict of insolvency appellate tribunal NCLAT, setting aside the insolvency proceedings against edtech major Byju’s and approving its ₹158.9 crore dues settlement with the BCCI.

Observing that the National Company Law Appellate Tribunal (NCLAT) did not apply its mind while closing the insolvency proceedings against the edtech major, a bench headed by Chief Justice D.Y. Chandrachud orally observed that it may send back the dispute for fresh adjudication.