The Karnataka High Court has postponed the hearing on Byju Raveendran's petition in the insolvency case to July 30.

The Karnataka High Court postponed the hearing of Byju Raveendran's plea, challenging the NCLT's order to initiate insolvency proceedings against Byju's, to July 30. This follows Byju's appeal to the High Court on Thursday for a stay on the insolvency process, which is scheduled for a hearing at NCLAT Chennai on July 29. The Board of Control for Cricket in India (BCCI) has accused Raveendran of misleading the court regarding these proceedings.

The NCLT began the bankruptcy process against Byju's following BCCI's plea over a Rs 158 crore debt related to a team sponsorship agreement from 2019, with only one invoice paid in full for 2022-2023. Additionally, Oppo has filed an insolvency plea against Byju's for a Rs 13 crore debt. Byju's has recently resolved insolvency cases with Surfer Technologies and Teleperformance, but still faces cases from McGraw Hill, Cogent E-services, and AG Automation.

In a related matter, certain holders of term loans and GLAS Trust Company LLC filed petitions under Chapter 11 of the US Bankruptcy Code against Byju's US-based guarantors: Epic!, Neuron Fuel (DBA Tynker), and Tangible Play (DBA Osmo).