The Supreme Court of India has dismissed a plea by Byju Raveendran, allowing US lenders to be part of Byju’s’ creditor panel.
The ruling strengthens the position of lenders in the ongoing insolvency proceedings of the embattled edtech firm.
Raveendran had challenged the inclusion of these lenders, but the court rejected his arguments, paving the way for their participation in key decisions related to the company’s future.
The move is seen as a setback for the founder, as creditors gain greater influence over restructuring and recovery plans.