Kerala HC dismisses plea for probe into irregularities in Byju’s insolvency
The Kerala High Court has dismissed an appeal by Voizzit Technology seeking a probe into alleged irregularities during the insolvency proceedings of Byju's. The court ruled that it could not interfere in matters already pending before the Karnataka High Court.
Why it matters
This legal development impacts the ongoing insolvency and corporate governance scrutiny surrounding the major ed-tech firm Byju's.
A Division Bench of the Kerala High Court recently dismissed an appeal by Voizzit Technology Private Limited for an investigation into alleged malpractices by the Interim Resolution Professional and others in the insolvency proceedings of Think and Learn Private Ltd., popularly known as Byju’s, an ed-tech company. Voizzit has been in a legal battle with Byju’s over ownership of their assets ever since the ed-tech company defaulted on Voizzit’s loan of $100 million.
The article reports on a court ruling in a factual, legalistic manner without editorializing.
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