Bengaluru: Byju’s proposed Rs 158-crore settlement with the BCCI (Board of Control for Cricket in India) remains unresolved despite repeated directions from the NCLT (National Company Law Tribunal) and eight meetings of the edtech firm’s creditor panel since March, including three after the court’s June 29 order asking lenders to decide the matter quickly.
The settlement could determine whether insolvency proceedings against Byju’s parent Think & Learn will continue. If creditors approve the deal and the NCLT accepts it, the insolvency process would end, and the BCCI would receive the money. If they reject it, the Rs 158 crore (currently in an escrow) would return to Riju Ravindran, who funded the settlement, while the insolvency process would continue.
