NCLAT sets aside BCCI and Riju Raveendran's plea on settlement for BYJU'S

The NCLAT (National Company Law Appellate Tribunal) set aside the NCLT's (National Company Law Tribunal) order on BCCI's (Board of Control for Cricket in India) plea regarding a settlement offered by Riju Raveendran of BYJU'S. The NCLAT's decision suggests that it found the NCLT's handling of the settlement proposal to be flawed or inconsistent with the provisions of the Insolvency and Bankruptcy Code.