Byju's moves NCLAT Chennai against insolvency proceedings ordered by NCLT

Byju's has appealed to the National Company Law Appellate Tribunal (NCLAT) in Chennai against the insolvency proceedings initiated by the National Company Law Tribunal (NCLT). The insolvency order pertains to Byju's subsidiary, Aakash Educational Services, which faced financial difficulties. Byju's argues that the NCLT's decision was made without proper consideration of the company’s financial health and ongoing restructuring efforts. The appeal seeks to halt the insolvency process and allow the company more time to address its financial issues and negotiate with creditors. This legal battle highlights ongoing challenges in corporate governance and financial management within major educational technology firms.