The troubles of the country’s edtech giant Byju’s are going to increase very soon. Let us tell you that the National Company Law Tribunal (NCLT) has accepted a petition related to the outstanding amount of Rs 158 crore on the company of the Board of Control for Cricket in India (BCCI).

It is worth noting that this dispute dates back to September 2023, when the BCCI filed a petition in the Bengaluru bench of NCLT against Byju’s parent company Think & Learn Pvt Ltd. The Apex Cricket Board has claimed in its petition that the company has made a major default in paying the outstanding sponsorship amount.

So the NCLT bench in its order said that Byju had availed the services of BCCI through sponsorship rights and there was clear evidence of the debt owed on it. The tribunal examined the trail of emails between the two parties, which fully defined the amount owed and the state of insolvency.

BCCI owes this much amount of crores

According to a statement issued by NCLT on the said issue, it has been stated that the general notice was issued to Byju’s via email dated 06.01.2023 and the outstanding sponsorship amount is Rs 158 crores excluding TDS (tax deduction at source), as shown in the outstanding bills.

Among these bills, BCCI has shown a total of 12 bills as evidence to the tribunal, in which Indian cricket team players were seen playing wearing jerseys having the company’s logo during foreign tours and series.

The first default happened on August 21, 2022, when the BCCI owed 50 per cent of the amount to the company. Despite Byju allowing the BCCI to encash the bank guarantee of Rs 143 crore in January 2023, the outstanding amount still stands at Rs 158.9 crore.

Well, now it remains to be seen when Byju is going to pay the dues to BCCI?