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.

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