SC stays NCLAT verdict approving Rs 158.9 crore dues settlement of Byju's with BCCI
New Delhi (PTI): The Supreme Court on Wednesday stayed the verdict of the insolvency appellate tribunal, NCLAT, approving Rs 158.9 crore dues settlement of edtech major Byju's with the BCCI.
A bench headed by Chief Justice D Y Chandrachud also stayed the NCLAT verdict setting aside the insolvency proceedings against Byju's.
It issued notices to Byju's on a plea of US-based creditor Glas Trust Company LLC against the NCLAT verdict.
The bench, also comprising justices J B Pardiwala and Manoj Misra, directed the BCCI to keep in a separate account Rs 158.9 crore received by it from Byju's in view of a settlement.
On August 2, the National Company Law Appellate Tribunal (NCLAT) had approved the Rs 158.9 crore dues settlement with the BCCI and set aside insolvency proceedings against Byju's, a move that will effectively put Byju Raveendran back in control of the firm.
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Four passengers arrested at BLR airport with hydroponic ganja worth over Rs 21.5 crore
Bengaluru (PTI): Four passengers who arrived from Bangkok at Kempegowda International Airport here were arrested with hydroponic ganja valued at over Rs 21.5 crore in two separate cases, officials said on Saturday.
They were intercepted at Terminal 2 of the airport on May 1, they added.
In the first case, Bengaluru Customs said in a post on ‘X’ that three passengers arriving from Bangkok were intercepted, and 52.68 kg of hydroponic ganja, valued at Rs 18.43 crore, was seized from their baggage.
In a separate case on the same day, another passenger arriving from Bangkok was intercepted, and 9 kg of hydroponic ganja, valued at Rs 3.15 crore, was seized from his baggage.
In both cases, the accused, whose identities have not been disclosed, were arrested under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, officials added.
