SC stays Kerala HC order which directing Byju’s RP, EY India chairman, Glas Trust to appear

Core Points - The contempt proceedings initiated by Voizzit Technology claim rights over TLPL's foreign assets, including the children's learning platform Epic and coding platform Tynker [1][5] - The Supreme Court has stayed the Kerala High Court's order that restrained the transfer of Byju's key overseas subsidiaries, questioning the continuation of the contempt case after the underlying order was overturned [2][5] - Byju's Alpha, a special purpose vehicle, sold its US assets at significantly reduced prices to repay creditors, with Tynker sold for $2.2 million and Epic for $95 million [3][4][5] Legal Proceedings - Voizzit Technology's contempt case is seen as a misuse of legal processes aimed at disrupting TLPL's ongoing insolvency suit [1][5] - The Kerala High Court's judgment from May 21, 2025, had previously restrained any transfer of Byju's overseas subsidiaries, which the Supreme Court has now set aside [2][5] - The Supreme Court's decision allows US bankruptcy attorney Claudia Springer to manage the sale of intellectual property linked to Byju's subsidiaries [2][5] Financial Context - The proceeds from the sale of Byju's US assets were utilized to repay US creditors [3][4][5] - TLPL is undergoing insolvency proceedings initiated after a claim by the Board of Control for Cricket in India for Rs 158 crore related to a sponsorship deal [4][5]