NCLAT Quashes Plea To Block CoC From Reviewing BCCI Application

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SUMMARY

NCLAT has refused to grant interim relief to BYJU’S suspended director Riju Ravindran, who sought to block the edtech company’s committee of creditors (CoC) from reviewing BCCI’s application

Ravindran moved the NCLAT after the NCLT directed the BCCI last week to submit its settlement application to the bankrupt company’s new CoC

The report said that Ravindran, brother of BYJU’S founder Byju Raveendran, argued that the settlement occurred before the new CoC was formed

The National Company Law Appellate…



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NCLAT Quashes Plea To Block CoC From Reviewing BCCI Application


SUMMARY

NCLAT has refused to grant interim relief to BYJU’S suspended director Riju Ravindran, who sought to block the edtech company’s committee of creditors (CoC) from reviewing BCCI’s application

Ravindran moved the NCLAT after the NCLT directed the BCCI last week to submit its settlement application to the bankrupt company’s new CoC

The report said that Ravindran, brother of BYJU’S founder Byju Raveendran, argued that the settlement occurred before the new CoC was formed

The National Company Law Appellate…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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