The Karnataka HC disposed BYJU’S founder Byju Raveendran plea challenging NCLT’s admission of BCCI's insolvency plea
The Judge hearing the plea reasoned that NCLAT is already hearing the matter
The NCLAT is set to hear the matter tomorrow
In another setback for the embattled edtech startup BYJU’S founder Byju Raveendran, the Karnataka High Court today disposed of his appeal to suspend National Company Tribunal (NCLT) order, which admitted insolvency resolution process earlier this month.
The matter was heard by a single bench of Justice S R Krishna Kumar. After understanding that a special bench constituted by National Company Law Appellate Tribunal (NCLAT) is already hearing the matter, the judge reportedly disposed of Raveendran’s plea. However, the court granted Raveendran a liberty to revive the petition later.