Articles for tag: BCCI, Byjus, Court, Crore, Delays, Disputes, Drama, Financial, Fueling, insolvency, Proceedings, Settlement, Supreme

September 6, 2024

Supreme Court delays insolvency proceedings against Byju’s amid disputes over a ₹158.9 crore settlement with BCCI, fueling financial drama.

The Supreme Court has agreed to hear an appeal from Glas Trust Company LLC, a US creditor, regarding a recent NCLAT judgment that paused insolvency proceedings against Byju’s, the prominent ed-tech firm. This decision comes after NCLAT approved a Rs 158.9 crore settlement with the BCCI over outstanding sponsorship payments. Byju’s lawyers argue the petition ...

September 4, 2024

Market News

Business

Byju’s Bankruptcy Drama: Lenders’ Fight for 3 Million Amid Allegations

Byju’s Bankruptcy Drama: Lenders’ Fight for $533 Million Amid Allegations

Byju’s, the education technology company, is facing major financial challenges as US lenders push for over $1.2 billion in repayments amid ongoing insolvency proceedings in India. A court official in India removed these lenders from a key creditors committee, hampering their influence in the repayment plan. The lenders accused the official, Pankaj Srivastava, of unfair ...

August 31, 2024

Market News

Business

Monsoon Drama: India Faces Rain Surplus Amid Northeast Deficiency

India experienced a significant increase in rainfall during August 2024, with the India Meteorological Department reporting levels about 16 percent above normal. The country received an average of 287.1 mm of rain, making it the second wettest August since 2001. However, several areas, particularly in the northeast, Kerala, and Vidarbha in Maharashtra, recorded below-normal rainfall ...