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Searched Tag: nclat

Supreme Court orders liquidation of Jet Airways

November 7, 2024, 12:56 PM - 4 min read

The Supreme Court has ordered the liquidation of Jet Airways after a failed resolution process, citing “flagrant disregard” of a prior order and forfeiting Rs 200 crore from the Jalan-KalRock Consortium.

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Justice Sharad Kumar Sharma of the National Company Law Appellate Tribunal (NCLAT) recused himself on Monday from hearing an appeal filed by Byju’s co-founder, Byju Raveendran, challenging the insolvency proceedings against the edtech firm’s parent company, Think and Learn Pvt Ltd.

Justice Sharma steps down from Byju’s insolvency appeal

July 29, 2024, 01:21 PM - 2 min read

The insolvency petition was filed by the BCCI last September, alleging that Think and Learn defaulted on payments totaling Rs 158 crore. The dispute centers on payments due from October 2022 to March 2023, following a jersey sponsorship agreement signed in March 2019 and extended for an additional year.

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