BCCI and Byju’s in settlement talks, NCLAT adjourns case till July 31

The Board of Control for Cricket in India (BCCI) on July 30 informed the National Company Law Appellate Tribunal (NCLAT) that it is in initial settlement talks with Byju Raveendran to settle its dispute with Think and Learn Private Limited.

Solicitor General Tushar Mehta, who appeared for BCCI said "The matter may be heard tomorrow, they are in talks." The NCLAT accordingly adjourned the case to July 31.

Senior advocate Mukul Rohatgi, who appeared for the US-based lenders of the company, told the NCLAT that their plea was disposed of after the insolvency order and he is seeking to appeal the order.

The tribunal agreed to hear all the applications on July 31.

On July 29, justice Sharad Kumar Sharma of the National Company Law Appellate Tribunal (NCLAT) recused himself from hearing Byju's founder Byju Raveendran's plea challenging the order admitting the edtech startup’s parent Think and Learn to bankruptcy on a plea by BCCI.

The NCLT started bankruptcy proceedings against Think and Learn on July 16 on a Board of Control for Cricket in India's plea over the non-payment of Rs 158 crore.