Supreme Court Rejects Plea Against BCCI-Byju’s Insolvency Case Withdrawal

The Supreme Court has dismissed a plea challenging the withdrawal of insolvency proceedings filed by BCCI against Byju’s over unpaid sponsorship dues. 

The original insolvency plea before NCLT Bengaluru was withdrawn after a mutual settlement. The petitioner, a third party, opposed the withdrawal, citing public interest.

However, the Supreme Court refused to intervene, stating the petitioner had no locus standi in a matter that was already settled mutually.

The bench made it clear that third parties cannot interfere in settled IBC disputes unless directly affected, and refused to entertain the petition.