Supreme Court to Expedite Hearing on Byju's Insolvency Case

The Supreme Court agreed to an early hearing for Glas Trust Company LLC's appeal against NCLAT's judgment staying insolvency proceedings against Byju's. The case involves a Rs 158.9 crore settlement with the BCCI. Both parties seek a swift resolution. The next hearing is scheduled for August 27.

The Supreme Court has decided to expedite the hearing of Glas Trust Company LLC's appeal against the NCLAT's decision to stay insolvency proceedings against Byju's. This follows a Rs 158.9 crore settlement with the BCCI.

The bench, led by Chief Justice D Y Chandrachud, emphasized the urgency of the matter as argued by senior advocate NK Kaul, who represents Byju's. Kaul stated that no external borrowing had been introduced, challenging the malafide intentions of the US creditor's petition.

Both Byju's and the US-based creditor are keen on an early resolution. The final hearing is set for August 27, where the Supreme Court will decide the merit of the appeal against the NCLAT's judgment.

(With inputs from agencies.)