Byju’s has filed an appeal in NCLT to extend the insolvency case filed by BCCI for arbitration. Byju’s hopes that the matter will be resolved with BCCI through talks. The whole matter is related to payment default of Rs 158 crore. These facts have come to light in the hearing held in NCLT.
BCCI denies Byju’s claim
Byju’s lawyer told NCLT that talks were continuing between the two parties till Tuesday night. However, BCCI has denied such talks.
Meanwhile, BCCI had asked for an extension of 2 weeks to respond to Byju’s reply. Now the next hearing of the case will be on 7th February.
BCCI had filed an insolvency application against Byju’s on September 8 under Section 9 of the Insolvency and Bankruptcy Code. The case was officially registered on 15 November.
Let us tell you that Byju’s has been the main sponsor of the jersey (T-Shirt) of the country’s national cricket team from 2019 to January 2023. This year Byju’s had decided to terminate the contract midway. The next hearing in this case will be on December 22.
