In A Blow To BYJU’S, NCLAT Says Creditors Have ‘Liberty’ To Decide On INR 158 Cr Settlement With BCCI

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SUMMARY

Appellate Tribunal NCLAT has disposed of a petition filed by Riju Ravindran seeking to block lenders of BYJU’S from deciding on a INR 158 Cr settlement with the BCCI

This is a major blow to BYJU’S as its settlement proposal will now be placed before the Committee of Creditors (CoC), comprising GLAS Trust and Aditya Birla Finance

GLAS had previously opposed the settlement, saying the money paid to the BCCI was “tainted” and a case of “round tripping”.

The National Company Law Appellate Tribunal (NCLAT) has…



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In A Blow To BYJU’S, NCLAT Says Creditors Have ‘Liberty’ To Decide On INR 158 Cr Settlement With BCCI


SUMMARY

Appellate Tribunal NCLAT has disposed of a petition filed by Riju Ravindran seeking to block lenders of BYJU’S from deciding on a INR 158 Cr settlement with the BCCI

This is a major blow to BYJU’S as its settlement proposal will now be placed before the Committee of Creditors (CoC), comprising GLAS Trust and Aditya Birla Finance

GLAS had previously opposed the settlement, saying the money paid to the BCCI was “tainted” and a case of “round tripping”.

The National Company Law Appellate Tribunal (NCLAT) has…



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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