US judge refuses lender request to block edtech firm Byju’s payment to BCCI

In a big relief for Byju’s, Delaware Bankruptcy Court in the US has rejected attempts by GLAS Trust Company, which represents the foreign lender consortium, to impede the edtech firm’s ongoing turnaround efforts.

Byju’s on Thursday said this ruling reinforces the validity of the settlement between the Board of Control for Cricket in India (BCCI) and Think & Learn Private Limited (TLPL), its holding company, which was previously approved by India’s National Company Law Appellate Tribunal (NCLAT).