Byju's and BCCI Settle Rs 158.9 Crore Dispute

Embattled edtech startup Byju's and the Board of Control for Cricket in India (BCCI) have reached a settlement over unpaid dues amounting to Rs 158.9 crore, with payment to be facilitated by Byju Raveendran's brother, Riju Raveendran. The National Company Law Tribunal (NCLT) had previously initiated insolvency proceedings against Byju's parent company, Think & Learn Pvt Ltd, following BCCI's plea. However, Justice Sharad Kumar Sharma of the National Company Law Appellate Tribunal (NCLAT) recused himself from hearing Byju Raveendran's appeal due to his past representation for the BCCI. The case has been referred to the NCLAT Chairperson for reassignment to another bench. Byju Raveendran has also filed a new writ petition in the Karnataka High Court to challenge the insolvency proceedings and regain control over the company.