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SC Questions NCLAT’s Decision To Approve BYJU’S-BCCI Settlement

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The Chief Justice of India, DY Chandrachud, has revealed that the Supreme Court is contemplating returning the insolvency matter to the National Company Law Appellate Tribunal (NCLAT). This comes after the NCLAT's decision to pass an order based on the significant difference in the dues owed by BYJU'S to its Term Loan B lenders, Glas Trust, in comparison to the Board of Control for Cricket in India (BCCI). The decision follows a recent ruling by a US bankruptcy court, stating that BYJU'S had defaulted on its Term Loan B.