The BCCI vs Byju’s case is officially closed. The issue of unpaid dues by the Indian cricket team’s official shirt sponsor from 2019-2023, has been resolved. The ed-tech company, which had paid the BCCI around Rs 287 crore in 2018, had extended that deal to Rs 450 crore by the time the deal came to an end in January 2023.
The BCCI-Byju’s case
However, BCCI later revealed that Byju’s hadn’t paid them in full for the deal. It was just the Indian board with the Byju’s that had signed up, but they were sponsoring other big sports boards and players like the ICC, FIFA, and Lionel Messi. They didn’t extend their deal with any sports entity, and earlier this year, on January 25, the ed-tech company declared bankruptcy.
Bjyu’s parent company, Think and Learn, has agreed to a settlement and has already paid the BCCI Rs 50 crore. They will pay the remaining amount in two installments by August 9. The BCCI filed a plea before the National Company Law Appellate Tribunal (NCLAT) on September 8, 2023 and it is only after 10 months that the matter has come to a close.
Latest on Indian cricket
No excuses
A two-member bench of the NCLAT went through the matter on July 29. Byju’s filed for an appeal, but the tribunal threw it out, asking them why their parent company decided to move the case out of the Karnataka High Court. The ed-tech company requested the NCLAT hear the plea as ‘salaries of thousands of employees needed to be paid’ but the tribunal didn’t budge.
Just two days later, Byju’s paid the BCCI nearly one-third of the amount non-paid, and the cricket board informed the NCLAT about the development.
Editor's Pick
Cricket
IND vs AUS 1st Test, Day 2 LIVE Score: KL Rahul-Jaiswal anchor innings
Top Stories
