Friday, July 11, 2025

Creating liberating content

First off, eggs are loaded with protein and your hair

Back pain is generally caused sue to muscle soreness or

Bone cancer is a serious condition where abnormal cells grow

In this photo illustration a Bitcoin logo seen displayed on

Related News

First off, eggs are loaded with protein and your hair is basically made of protein (keratin, if you wanna get fancy). They also pack a punch with vitamins like biotin,

Back pain is generally caused sue to muscle soreness or muscle pull and so it can worsen or improve depending on your posture or body movements, like bending, sitting, or

Bone cancer is a serious condition where abnormal cells grow in the bones, damaging healthy tissues. It can occur in any bone, but often affects the thigh, shin, or upper

In this photo illustration a Bitcoin logo seen displayed on a smartphone with stock market percentages in the background. Omar Marques | SOPA Images | LightRocket | Getty Images Bitcoin

In the yogic tradition, if you cook anything, it must be consumed within 1.5 hours of cooking. And if not, then maximum 4 hours, depending upon the items and cooking

‘The Best You’ features India’s comedy queen, Bharti Singh, who shares her story resilience and reinvention Klook, Asia’s leading platform for travel experiences and services, launched its new campaign titled

Trending News

‘The Best You’ features India’s comedy queen, Bharti Singh, who shares her story resilience and reinvention Klook, Asia’s leading platform for travel experiences and services, launched its new campaign titled

Britain’s economy contracted for the second consecutive month in May, dealing a blow to finance minister Rachel Reeves as she navigates a shaky domestic recovery and heightened global uncertainty. Official

Slow US-China trade deal may push Trump’s tariff deadlines Trade deals between the US and China are moving at a pace slower than expected, which may lead to extensions of

Access Denied You don’t have permission to access ” on this server. Reference #18.adf5d217.1752215691.16ea1cd4 Source link

Tesla’s entry into India comes at a time when the EV maker is facing reduced sales in Europe and China. (AI image) Elon Musk-led Tesla is set to open its

Market movements are expected to be influenced by India-US trade negotiations and company earnings reports. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened

‘No settlement without backing of Byju’s creditors’

Word Count: 597 | Estimated Reading Time: 3 minutes


'No settlement without backing of Byju's creditors'

BENGALURU: The National Company Law Appellate Tribunaldismissed attempts by Byju’s founder Byju Reveendran’s brother Riju Ravindran and cricket body BCCI to withdraw insolvency proceedings against the edtech firm without creditor approval.This decision reinforces the authority of the committee of creditors (CoC) in thecorporate insolvency case.
NCLAT upheld an earlier decision by the Bengaluru bench of the National Company Law Tribunal (NCLT), which declined to immediately approve the out-of-court settlement between BCCI and Byju’s. The appellate tribunal stated that since the settlement proposal came after the formation of the CoC, it cannot proceed without the consent of 90% of the creditor group, in line with Sec 12A of Insolvency and Bankruptcy Code.
The CoC includes GLAS Trust, a US-based trustee representing lenders to whom Byju’s owes $1.2 billion, and Aditya Birla Finance. Based on admitted claims, GLAS Trust holds a 99.4% voting share in the committee.
The case stems from a sponsorship dispute involving BCCI, which filed an insolvency plea last year over unpaid dues of Rs 158.9 crore tied to a 2019 team sponsorship agreement.
Though NCLAT briefly stayed insolvency proceedings in Aug 2024 after a settlement was proposed, that ruling was overturned by the SC in Oct following objections from GLAS Trust. The lender alleged that the funds offered for settlement by Ravindran were questionable and should be directed toward broader debt obligations.
Ravindran and BCCI argued that their withdrawal application was submitted before the CoC was formed. However, the tribunal found that Form FA – the official application for withdrawal – was filed on Nov 14, 2024, by which time the CoC had already been constituted. As a result, the application triggers mandatory creditor consent.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account