New Delhi

On Thursday, the Supreme Court decided to hold off on ruling regarding a plea that challenges the National Company Law Appellate Tribunal (NCLAT) decision to pause the insolvency proceedings initiated by Byju’s. The bench, led by Chief Justice DY Chandrachud and including Justices JB Pardiwala and Manoj Misra, instructed the Insolvency Resolution Professional to keep everything as it is, prohibiting any meetings with the committee of creditors related to Byju’s until the court reaches a decision.

The SC stated, Judgment reserved, and emphasized that the interim resolution professional should maintain the current status until the judgment is announced. The court was addressing the Glas Trust Company LLC’s plea against the NCLAT’s earlier ruling, which had allowed a settlement between Byju’s founder, Raveendran, and the Board of Control for Cricket in India (BCCI) over outstanding payments totaling ₹158 crore.

During the hearing, the court expressed concerns about whether the NCLAT had fully considered the matter in its decision. It also suggested the possibility of sending the issue back to the NCLAT for a fresh review, indicating a willingness to reevaluate the situation surrounding Byju’s insolvency proceedings.