Byju's Faces SC Setback Over Rs 158-Crore BCCI Settlement

• The Supreme Court has overturned the NCLAT's approval of a Rs 158 crore settlement between Byju's and the BCCI.
• The court found the approval violated key procedures under the Insolvency and Bankruptcy Code.
• This follows Byju's legal troubles across multiple fronts, including New York courts, the NCLT, NCLAT, and the Indian Supreme Court.
• The issues began in June 2023 when Byju’s missed an interest payment on a $1.2 billion term loan.
• US lender Glas Trust challenged the NCLAT order after finding no relief from the tribunal.

Source: Moneycontrol