Why did the Supreme Court set aside the NCLAT decision in the Byju’s insolvency case
The Supreme Court overturns NCLAT decision in the Byju’s insolvency case.
- The Supreme Court set aside the NCLAT decision in the Byju's insolvency case primarily due to procedural irregularities.
- The NCLAT had allowed the initiation of insolvency proceedings against Byju's without giving them an opportunity to present their case.
- The Supreme Court held that principles of natural justice were not followed, as Byju's was not given a chance to respond to the allegations made against them.
- The NCLAT's decision was deemed as violating the principles of natural justice and fair play, leading to its overturning by the Supreme Court.
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6 months ago