New Delhi [India]: The Supreme Court on Wednesday stayed the National Company Law Appellate Tribunal’s (NCLAT) order that allowed a settlement between Byju’s and the Board of Control for Cricket in India (BCCI).
A bench headed by Chief Justice DY Chandrachud stayed the National Company Law Appellate Tribunal’s (NCLAT) decision approving a settlement between Byju and BCCI regarding unpaid dues amounting to Rs 158 crore.
“Pending further orders there shall be a stay on the order,” the court said asking BCCI to keep the settlement amount of Rs 158 crore in a separate account till the next date is fixed for hearing on August 23.
The court also issued the notice to Byju’s’ on the petition. The court was hearing the Glas Trust Company LLC plea. Earlier, NCLAT had allowed the settlement between Byju Raveendran and the BCCI.