Insolvency tribunal NCLT has issued notice to Think & Learn Pvt Ltd, which provides online educational services under the brand name of Byju's, over a petition filed by the Board of Control for Cricket in India (BCCI). (Cricket News)
The BC♉CI has filed a petition claiming dues of Rs 158 crore as an operational creditor🐟 under section 9 of the Insolvency & Bankruptcy Code 2016.
Admitting BCCI's plea, a two-member Bengaluru-based bench of the National Company Law Tribunal (NCLT) issued notice to Think & Learn on Novembe🐈r 28, 2023.
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The NCLT order further said, "two weeks is granted to the Respondent (Byju's) to fi༒le a reply and one week thereafter is granted to the Applicant (BCCI) to file rejoinder, if any, after duly serving the copy on the other side."
The tribunal has directed to list the mattඣer on December 22, 2023, for the nextꦺ hearing in this matter.
During the proceedings, BCCI's counsel informed NCLT that a general notice was issued to Byju's throu♎gh an e-mail dated January 6, 2023, with a default amount of Rs 158 crore, excluding TDS.
Byju's first came on b𒅌oard back in 🌞2019 when mobile manufacturer Oppo transferred the sponsorship rights to the online tutorial firm.
