BCCI has alleged BYJU’s defaulted on a Rs 158 crore payment, prompting the NCLT to grant two weeks for Byju’s response and an additional week for BCCI’s rejoinder in the ongoing case.
On December 4, the BCCI alleged that BYJU’s, an embattled ed-tech company, defaulted on a payment of Rs 158 crore, as evidenced by the National Company Law Tribunal (NCLT) website’s information. The NCLT has granted a two-week window for BYJU’s to respond to the claim, followed by an additional week for the BCCI to present a rejoinder.
Reports previously suggested that although the case was filed on September 8, it was formally registered only on November 15. This ongoing legal dispute involves the BCCI and Byju’s parent company, Think and Learn Pvt Ltd, with the next hearing scheduled for December 22, following the last hearing on November 28.
BYJU’S recently refuted BCCI’s claims, expressing ongoing discussions to settle the issue. This conflict adds to BYJU’S recent controversies, including allegations of overcharging parents, deceptive marketing, and employee lawsuits.
Initially securing a prominent sponsorship deal with the Indian cricket team in 2019, replacing OPPO, the agreement was intended until March 2022 but sought an extension for 2023. Amidst financial constraints in the startup ecosystem, BYJU’S had opted to end its jersey sponsorship deal with the BCCI in December 2022.
Last Updated on December 4, 2023
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