Supreme Court Questions Byju's Settlement with BCCI Amid ₹15,000 Crore Debt

The court has ordered a status quo on insolvency proceedings and scrutinized the NCLAT's approval of the BCCI settlement.

The Supreme Court criticized the NCLAT for approving Byju's ₹158.9 crore settlement with BCCI without proper consideration.
Byju's is currently facing a debt of ₹15,000 crore, raising questions about the preferential treatment of BCCI in the settlement.
The court has ordered that the ₹158.9 crore paid to BCCI be kept in a separate escrow account until further notice.
Glas Trust, a US-based creditor, claims the settlement money is 'tainted' and that they were wrongfully excluded from the insolvency proceedings.
The Supreme Court has reserved its judgment and directed the insolvency resolution professional to maintain the status quo until a decision is made.