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Insolvency tribunal NCLT has issued discover to Think & Learn Pvt Ltd, which gives on-line academic companies underneath the model identify of Byju’s, over a petition filed by the Board of Control for Cricket in India (BCCI). The BCCI has filed a petition claiming dues of Rs 158 crore as an operational creditor underneath part 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 discover to Think & Learn on November 28, 2023. The NCLT order additional mentioned, “Two weeks is granted to the Respondent (Byju’s) to file 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 record the matter on December 22, 2023, for the following listening to on this matter.
During the proceedings, BCCI’s counsel knowledgeable NCLT {that a} basic discover was issued to Byju’s by an e-mail dated January 6, 2023, with a default quantity of Rs 158 crore, excluding TDS.
Byju’s first got here on board again in 2019 when cell producer Oppo transferred the sponsorship rights to the net tutorial agency.
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Source web site: sports activities.ndtv.com
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