NCLAT approves BYJU'S settlement with BCCI, sets aside insolvency plea against edtech firm
The relief to the company was given on the basis of an undertaking by Riju Raveendran, brother of founder Byju Raveendran, in which he showed that the source of his funds with which he was repaying BCCI’s dues was his personal money and had nothing to do with the “missing” $533 million claimed by the US-based lenders.