BYJU'S-BCCI case: SC says 'creditors firmly in control' of situation
India's Supreme Court just shut down appeals from BYJU'S and BCCI, meaning the insolvency process against edtech giant BYJU'S will continue.
The court agreed with a previous ruling: once creditors are officially involved, you can't back out without their okay.
BCCI's case and formation of Committee of Creditors
BCCI kicked off the case in 2023 over unpaid dues of nearly ₹159 crore.
By August 2023, a Committee of Creditors (CoC) was set up—including US-based Glas Trust, which manages a huge chunk of BYJU'S $1.2 billion debt.
Since any withdrawal request came after this group was formed, their approval is now essential.
Implications of the ruling
This decision puts creditors firmly in control when companies hit financial trouble—no quick exits allowed once they're at the table.
For BYJU'S, it could make restructuring tougher and might shape how future insolvency cases play out in India.
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