Why Pick Up BCCI & Settle Only With Them?' Supreme Court Asks Byju's; Says NCLAT Didn't Apply Mind In Approving Settlement

The Supreme Court of India questioned the National Company Law Appellate Tribunal’s (NCLAT) approval of a settlement between Byju’s and the Board of Control for Cricket in India (BCCI). The court asked why the settlement was limited to BCCI and not extended to other creditors. The court noted that the NCLAT did not apply its mind in approving the settlement and directed a re-examination of the matter. This decision underscores the importance of ensuring fairness and transparency in settlement approvals and highlights the need for judicial scrutiny to protect the interests of all stakeholders.