This order has sent cash-strapped Byju's back to the corridors of the National Company Law Tribunal (NCLT), where it will once again face the insolvency proceedings that had kicked off on a plea filed by the Board of Control for Cricket in India (BCCI).
In July, the NCLT had started the insolvency proceedings after BCCI alleged that Byju's had defaulted on ₹158 crore. But the NCLAT halted the proceedings after Byju's claimed that it had reached an agreement to pay ₹158 crore to BCCI towards outstanding dues.
But Glas Trust, while alleging that the money was "illegal" and siphoned from them, had moved the apex court.
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