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]

Core Viewpoint - BYJU'S is facing significant legal and financial challenges, including asset sales at steep discounts and ongoing bankruptcy proceedings, which have raised concerns about its financial stability and compliance with legal obligations [1][4][5]. Group 1: Legal Proceedings - The Kerala High Court (HC) has summoned key individuals from BYJU'S and its lenders regarding the sale of assets Epic! and Tynker, despite a prior restraining order [1][2]. - A defamation lawsuit of $2.5 billion is planned by BYJU'S founder against Glas Trust and the resolution professional (RP) [1][6]. - The Supreme Court dismissed Raveendran's appeal related to the approval process for withdrawing insolvency proceedings, indicating ongoing legal hurdles for BYJU'S [6]. Group 2: Asset Sales - Epic! and Tynker were sold at significant discounts: Tynker for $2.2 million, down 99% from the $200 million paid in 2021, and Epic! for $95 million, an 81% reduction from the $500 million paid [4]. - The sales were part of BYJU'S bankruptcy process in the US, linked to an unpaid term loan of $1.2 billion [4][7]. Group 3: Financial Challenges - BYJU'S is struggling with mounting losses and a significant decline in revenues, leading to its inability to repay loans [7]. - Creditors have alleged that BYJU'S violated loan terms, with $533 million of the total debt reportedly moved out of the US illegitimately [8].