'No settlement without backing of Byju's creditors'

Quick Summary:

The National Company Law Appellate Tribunal (NCLAT) has dismissed attempts to halt insolvency proceedings against Byju's without creditor approval, reinforcing the authority of the Committee of Creditors (CoC).

NCLAT upheld that any settlement proposal after CoC formation requires 90% creditor consent, as per the Insolvency and Bankruptcy Code.

This decision reinforces the authority of the committee of creditors (CoC) in thecorporate insolvency case.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: IndiaBangladesh

Topics: National Company Law Appellate Tribunal Insolvency and Bankruptcy Code BCCI sponsorship dispute Corporate insolvency Byju's insolvency case

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-19 @ 09:51:14 (1 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 548 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 27984844

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