Supreme Court sets aside NCLAT order stopping insolvency proceedings against Byju’s

The Supreme Court on Wednesday set aside the National Company Law Appellate Tribunal’s (NCLAT) verdict that had halted the insolvency proceedings against Byju’s despite a case pending against the edtech firm before the National Company Law Tribunal.

“The NCLAT does not provide any reasons for deviating from this procedure or the urgency to approve the settlement without following the procedure,” the court said.