NCLT lists Byju’s vs BCCI case for March 20, order likely next week

The court is also likely to pronounce an order on the BCCI’s insolvency petition against Byju’s next week after arguments conclude.

The Issue

The BCCI in September applied to the Bengaluru bench of NCLT against Think & Learn Pvt Ltd which operates Byju’s for defaulting on dues of close to ₹160 crore. The case pertains to the dispute around the sponsorship rights of the Indian cricket team’s jerseys.

It was on November 15 that the bankruptcy tribunal registered the matter for further hearing, according to the latest details available on their website.

Later on November 28, the ed-tech firm said it is in talks with the Board of Control for Cricket in India (BCCI) to settle a pending insolvency matter filed against it in Bengaluru NCLT.

“We are in discussions with the BCCI to settle the matter and we hope to achieve that soon,” a Byju’s spokesperson had said without divulging any details.

To be sure, the ed-tech firm has been a partner of the Indian cricket team since 2019, with its branding featured on the front of the team’s jersey.

In June last year, Byju’s extended its sponsorship rights with the BCCI till November 2023.

The ed-tech firm had asked the board to encash ₹140 crore bank guarantee, while the remaining ₹160 crore was to be paid in installments.

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Published: 13 Mar 2024, 12:28 PM IST