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Byju’s creditor Surfer Technologies settles insolvency case with edtech firm | Mint

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Surfer Technologies, based in Gurugram, has informed the National Company Law Tribunal (NCLT) in Bengaluru that it has reached a settlement with Byju's and may withdraw its insolvency application filed against the edtech company. The NCLT had previously asked both parties to submit a formal application after the insolvency order was reserved. Surfer Technologies had initially filed the application under the Insolvency and Bankruptcy Code, claiming that Byju's owed over ₹2 crore in debt. Byju's had also reached a settlement with another operational creditor, Teleperformance Business Services, earlier this year. The NCLT is currently also dealing with an oppression and mismanagement case against Byju's filed by investors General Atlantic and MIH Edtech.