Overview

• A bench of Justices JB Pardiwala and R Mahadevan refused to overturn the NCLAT’s April 17 order blocking the BCCI and Riju Raveendran from withdrawing insolvency proceedings against Think & Learn.
• The NCLAT held that Form FA was filed on November 14, 2024—after the Committee of Creditors was constituted—bringing the proposal under Regulation 30A(1)(b).
• CIRP against Byju’s was triggered on July 16, 2024 when the NCLAT admitted BCCI’s ₹158.90 crore claim as an operational creditor.
• Any future settlement must now secure the consent of at least 90% of the CoC’s voting share before the insolvency case can be withdrawn.
• The ruling reinforces IBC compliance and highlights the influence of international creditors such as US-based Glas Trust in the process.