On BCCI's Petition Against Byju's Claiming ₹158 Crore, NCLT Issues Notice
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). The BCCI 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 November 28, 2023. The NCLT order further said, "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."
