Byju Raveendran files caveat before Supreme Court against US creditor

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Byju Raveendran files caveat before Supreme Court against US creditor - YourStory

Quick Summary:

The caveat was filed before the apex court on August 3, a day after the NCLAT passed an order restoring BYJU'S board after setting aside insolvency proceedings against it.

In February, a group of investors in BYJU'S parent firm Think & Lean, including Prosus and Peak XV Partners, voted to remove Raveendran as CEO during an extraordinary general meeting, citing allegations of "mismanagement and failures".

The NCLAT had observed that the settlement arrived between the parties before the Committee of Creditors (CoC) could have been constituted and that the source of the payment being made "is not in dispute" nor related to the foreign funds as alleged by the US-based creditors.