Supreme Court Questions Byju's Debt Settlement Decision

The Supreme Court raised serious concerns about Byju's choice to settle only Rs 158 crore owed to the BCCI, while ignoring a staggering Rs 15,000 crore owed to other creditors, including US-based Glas Trust. Chief Justice DY Chandrachud criticized the National Company Law Appellate Tribunal's (NCLAT) decision to close insolvency proceedings, stating its reasoning lacked depth. The bench questioned why Byju's prioritized settling with BCCI over addressing the larger debt. The NCLAT had previously overturned insolvency proceedings against Byju's, allowing founder Byju Raveendran to regain control, but this relief was short-lived as the Supreme Court deemed the NCLAT's order "unconscionable" on August 14.



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