BCCI may move NCLT to seek withdrawal of Byju’s insolvency proceedings

The Board of Control for Cricket in India (BCCI) is likely to move the National Company Law Tribunal (NCLT), Bengaluru, to seek the withdrawal of its insolvency plea against ed-tech firm Byju’s, according to industry sources.

The move may come after the Supreme Court last month annulled the National Company Law Appellate Tribunal (NCLAT) ruling that sanctioned a settlement of Rs 158 crore between Byju’s (Think and Learn Pvt Ltd) and the BCCI on October 23.