The Mumbai bench of the tribunal held that the application, submitted by a minor shareholder to enforce the merger scheme, is no longer relevant as the companies had already withdrawn it
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"Within four weeks, all transactions and appropriations made between March 7, 2023, and August 10, 2023, shall be reversed," says the tribunal
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Both companies agreed to withdraw all claims from arbitration at the Singapore International Arbitration Centre and other legal proceedings
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However, the settlement was opposed in court by GLAS Trust Company, one of Byju’s US-based creditors, which questioned the radix of the funds that Byju’s would pay BCCI with, according to media reports. The matter is set to be heard further on Thursday
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Walt Disney (36.63 per cent), Digital18 (46.11 per cent), and RIL (16.34 per cent) will share ownership of Star India after shares are allotted to Digital18 and RIL
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