NCLT is not a post office and 3 other findings of Supreme Court in Byju's case

The Supreme Court clarified the law on the withdrawal and settlement of claims under the Insolvency and Bankruptcy Code (IBC) in a judgment involving Byju’s. The court ruled that claims can be withdrawn or settled with the approval of the Committee of Creditors (CoC) before the resolution plan is approved. The judgment emphasizes the importance of creditor consent in the insolvency process and aims to provide clarity on the procedural aspects of claim withdrawal and settlement. The ruling has significant implications for corporate debtors and creditors in insolvency proceedings.