No interim relief for Byju’s as NCLAT rules Rs 158 crore settlement with BCCI to fall under CoC review

The National Company Law Appellate Tribunal (NCLAT) Chennai on Wednesday refused to grant interim relief to Riju Raveendran, a director at troubled edtech giant Byju’s, in his plea to exclude a Rs 158 crore settlement with the BCCI from the oversight of the Committee of Creditors (CoC).

Riju, the younger brother of Byju’s founder Byju Raveendran, argued that the settlement with the Board of Control for Cricket in India (BCCI) had been finalised before the CoC was constituted. However, the tribunal did not provide immediate relief, scheduling the next hearing for March 3.