Top Court Rejects Byju’s Settlement, Paving Way for Insolvency
India’s top court struck down a tribunal order that allowed Byju’s to settle debts with a creditor, pushing the online tutor back firmly into the insolvency process and taking it a step closer to failure.The Supreme Court order Wednesday is a setback for founder Byju Raveendran and his eponymous firm, and it keeps control of the education company with a bankruptcy professional. It’s a win for US-based creditor Glas Trust Company, which had opposed the settlement with the Indian creditor — the ru...
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