SC agrees to list plea related to insolvency proceedings against Byju's

The Supreme Court on Friday agreed to list for an early hearing the appeal of US-based creditor Glas Trust Company LLC against a judgment of the NCLAT, which had stayed insolvency proceedings against ed-tech firm BYJU's and approving its Rs 158.9 crore dues settlement with the BCCI.

A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest.

Kaul said, The only funding was done by the promoters and today no one has brought any external borrowing. We have to show today how malafide the petition (of US firm) is.

I will get it listed as early as possible, the CJI, who was indisposed and in quarantine for the last few days, said.

Senior advocate Kapil Sibal, appearing for the US-based creditor, said it also wanted an early hearing.

Earlier on August 22, the bench had refused to pass an interim order to ensure that the committee of ...