Indian edtech company Byju’s will challenge the insolvency proceedings initiated against it in an attempt to block the process as it negotiates with the country’s cricket board to settle a dispute, two sources with knowledge of the matter said on Wednesday.
The National Company Law Tribunal in the southern state of Karnataka had ordered insolvency proceedings against the company on a complaint by the cricket board and a court-appointed professional is currently running the company.
(Reporting by Aditya Kalra, Writing by Arpan Chaturvedi; Editing by Himani Sarkar)
