Byju Raveendran files caveat before SC against US-based creditor Glas Trust

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Byju Raveendran files caveat before SC against US-based creditor Glas Trust - Business Standard

Quick Summary:

Byju Raveendran has filed a caveat before the Supreme Court against its US-based creditor Glas Trust Company LLC over the order passed by the insolvency appellate tribunal NCLAT.

Anticipating the US-based creditor would challenge the NCLAT order before the Supreme Court, Byju Raveendran had filed a caveat requesting to be heard before the apex court passes any order on a plea filed by the US-based creditors.

The caveat was filed before the apex court on August 3, a day after the National Company Law Appellate Tribunal (NCLAT) passed an order restoring the board of edtech major after setting aside insolvency proceedings against it.