Nationwide Firm Regulation Appellate Tribunal (NCLAT) Chennai Judicial Member Justice Sharad Kumar Sharma on July 29 refused to listen to an attraction by Byju Raveendran towards the insolvency proceedings ordered towards Suppose & Be taught Non-public Restricted, which runs Byju’s, citing that he has appeared for Board of Management for Cricket in India (BCCI) as senior counsel in variety of instances.
He directed for the matter to be positioned earlier than NCLAT chairperson for nomination of acceptable Bench for listening to the case.
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The Nationwide Firm Regulation Tribunal (NCLT), Bengaluru, had ordered insolvency proceedings towards Suppose & Be taught Non-public Restricted. The event got here after the Board of Management for Cricket in India (BCCI) filed a petition claiming a default of ₹159 crore.
The NCLT had appointed Pankaj Srivastava as an interim decision skilled, who will oversee the administration of Byju’s and energy of board of administrators was suspended for now.
Byju Raveendran, suspended director, promoter, & shareholder of Suppose & Be taught Non-public Restricted had moved NCLAT towards the insolvency proceedings order. On the listening to on July 29, Justice Sharad Kumar Sharma mentioned he isn’t proposing to take up the matter, as he has been showing as senior counsel for BCCI. “So, I’m refusing to listen to the matter,” he mentioned.
“I can’t enterprise into this. I’ve been common counsel for the BCCI in numerous instances”, Justice Sharad Kumar Sharma mentioned and directed the case to be positioned earlier than NCLAT Chairperson for nomination of an acceptable Bench.
