Byju’s-BCCI settlement remains stalled; NCLT pauses buyer search
Byju’s stalled Rs 158-crore BCCI settlement awaits creditor decision as NCLT pauses buyer search for Think & Learn.Summary
Byju’s proposed Rs 158-crore settlement with the BCCI remains unresolved despite multiple NCLT directions and eight creditor panel meetings since March. Approval would end insolvency proceedings against Byju’s parent Think & Learn, while rejection would return the escrowed funds to Riju Ravindran and keep the process alive. The decision is tied to broader settlement talks involving GLAS Trust, the founders, Manipal group, and Aakash Educational Services, with lenders seeking a stake in Aakash. During a July hearing, the creditor committee requested more information on the funds’ source, a bank guarantee, and a Supreme Court application, but no decision was made, and the NCLT scheduled the next hearing for September 15 while pausing any buyer invitation for Think & Learn until August 31. The tribunal also ordered the settlement money to be placed in an interest‑bearing fixed deposit with a nationalised bank, requiring NCLT approval for any use.
(Source：The Economic Times)