NCLAT postpones decision on BYJU’S-BCCI settlement amid US lenders’ claims

Quick Summary:

Byju Raveendran has been instructed to submit an undertaking proving that the source of the funds is legitimate and that no court orders were violated in obtaining the money.

The NCLT is the first instance tribunal for company law matters, while the NCLAT is the appellate body for decisions made by the NCLT.

The NCLAT has directed the lenders not to form the Committee of Creditors until August 1, when the case is scheduled for its next hearing.

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Article Details

Author / Journalist: Ishan Patra

Category: StartupsEconomyBusiness

Markets: India

Topics: Privacy Settlement Lenders Tribunal Company Nclat Money Byju Funds Policy Raveendran

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 10:30:58 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 292 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 18 words per sentence (average)

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News ID: 21870748

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