Highlights

  • BCCI alleges Byju’s defaulting ₹158 crore, prompting NCLT proceedings.
  • NCLT grants response time, schedules hearing in payment dispute.

Latest news

Man seeks therapy after swiping 500 profiles a day on Tinder

Man seeks therapy after swiping 500 profiles a day on Tinder

No 'Mann Ki Baat' for next 3 months: PM Modi

No 'Mann Ki Baat' for next 3 months: PM Modi

New Zealand to send security delegation to Pakistan ahead of T20I series

New Zealand to send security delegation to Pakistan ahead of T20I series

Rakul Preet Singh was a vision in golden as she picked a Falguni Shane Peacocok lehenga for sangeet night

Rakul Preet Singh was a vision in golden as she picked a Falguni Shane Peacocok lehenga for sangeet night

Farmers' protest: mobile internet restored in 7 Haryana districts

Farmers' protest: mobile internet restored in 7 Haryana districts

SAG Awards 2024: Margot Robbie reprises her 'Barbie' avatar, Selena Gomez shines in Versace bridal gown

SAG Awards 2024: Margot Robbie reprises her 'Barbie' avatar, Selena Gomez shines in Versace bridal gown

Woman accidentally bakes her iPad in oven, netizens react

Woman accidentally bakes her iPad in oven, netizens react

ICC suspends Hasaranga for two matches, Gurbaz fined 15 per cent of match fees

ICC suspends Hasaranga for two matches, Gurbaz fined 15 per cent of match fees

BCCI claims Byju’s defaulted ₹158 crore payment, NCLT proceedings initiated

The conflict involving BCCI and Think and Learn Pvt Ltd, Byju’s parent company, was formally documented on November 15 following its initial submission on September 8.

BCCI claims Byju’s defaulted ₹158 crore payment, NCLT proceedings initiated

The Board of Control for Cricket in India has raised concerns regarding an alleged default in payment by Byju’s amounting to a substantial ₹158 crore. The information, available on the National Company Law Tribunal (NCLT) website, highlights the purported default by Byju’s, excluding TDS, as communicated in a general notice issued via email on January 6, 2023.

According to details on the NCLT platform, Byju’s has been granted a two-week period by the NCLT to respond to these claims. Subsequently, BCCI will be allowed an additional week to file a rejoinder in this matter.

This ongoing dispute between BCCI and Think and Learn Pvt Ltd, the parent company of Byju’s, was officially registered on November 15 after its initial filing on September 8. Notably, a recent report by Moneycontrol indicated that although the case was scheduled for a hearing on November 28, it has now been rescheduled for December 22.

The NCLT's decision to grant specific timeframes for responses from both parties indicates the legal process's adherence to fair proceedings. By providing this opportunity for Byju’s to present its reply and subsequently allowing BCCI to counter, the tribunal aims to ensure a comprehensive and just resolution to this financial dispute.

As this case progresses, stakeholders and observers within the realms of cricket and business will likely keep a close eye on the developments. The outcome of this legal confrontation could potentially have implications for both Byju’s and BCCI, impacting their financial standings and public perception.

Also Watch: Byju’s valuation: Prosus slashes it to below $3 billion


Up Next

BCCI claims Byju’s defaulted ₹158 crore payment, NCLT proceedings initiated

BCCI claims Byju’s defaulted ₹158 crore payment, NCLT proceedings initiated

Government aims for record road construction in FY24

Government aims for record road construction in FY24

Investors oust Raveendran; Byju's calls decision invalid

Investors oust Raveendran; Byju's calls decision invalid

Paytm crisis: RBI announces roadmap to ensure smooth transition for users with @paytm handles

Paytm crisis: RBI announces roadmap to ensure smooth transition for users with @paytm handles

Indian semi-conductor stocks rally after Nvidia's record gain

Indian semi-conductor stocks rally after Nvidia's record gain

Kia announces voluntary recall of over 4,300 Seltos cars in India

Kia announces voluntary recall of over 4,300 Seltos cars in India

More videos

Maharashtra FDA cracks down on McDonald's for using cheese substitutes

Maharashtra FDA cracks down on McDonald's for using cheese substitutes

Byju's investors file oppression, mismanagement suit against co-founder Raveendran at NCLT

Byju's investors file oppression, mismanagement suit against co-founder Raveendran at NCLT

Yulu raises $19.25 million from Magna, Bajaj Auto to fuel expansion plans

Yulu raises $19.25 million from Magna, Bajaj Auto to fuel expansion plans

Paytm app downloads plummet after RBI restrictions; BHIM UPI sees 49% surge

Paytm app downloads plummet after RBI restrictions; BHIM UPI sees 49% surge

Invest Smart: Expert guide for first-time mutual fund investors

Invest Smart: Expert guide for first-time mutual fund investors

Goldman Sachs downgrades SBI, ICICI, Yes Bank, says headwinds intensifying for financial services

Goldman Sachs downgrades SBI, ICICI, Yes Bank, says headwinds intensifying for financial services

Nvidia's rise propels CEO Jensen Huang to become world's 24th richest; here's everything about him

Nvidia's rise propels CEO Jensen Huang to become world's 24th richest; here's everything about him

US based Vice Media to lay off several hundreds, to stop website publishing

US based Vice Media to lay off several hundreds, to stop website publishing

BYJU's founder and board declare EGM invalid, decide to skip the meet

BYJU's founder and board declare EGM invalid, decide to skip the meet

Gold, Silver Price Today February 23, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today February 23, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.