Wednesday, 23 October, 2024

Supreme Court Reinstates Insolvency Proceedings Against Byju’s

The Supreme Court overturned the NCLAT's decision to halt insolvency proceedings against EdTech firm Byju’s. The case involves creditors seeking action due to the company’s inability to meet financial obligations. Byju's had previously challenged the initiation of insolvency, but with the Supreme Court’s ruling, the proceedings will now move forward, marking a significant development in the financial challenges facing the EdTech giant.