BCCI seeks Byju’s insolvency at NCLT over default in payment of Rs 158 cr
The Board of Control for Cricket in India (BCCI) has claimed that Byju’s has defaulted on a payment of Rs 158 crore. It has approached the National Company Law Tribunal (NCLT) at Bengaluru to initiate corporate insolvency proceedings against the beleaguered edtech company. The case is called BCCI v. M/s. Think & Learn Pvt. Ltd.
“It is stated that the General notice was issued to Byju’s vide email dated 06.01.2023 and the default amount of Rs 158 crore, excluding TDS (tax deducted at source) as reflected in the invoices attached,” said the order delivered on November 28, 2023.