DTVHINDITribunal approves BCCI-BYJU’s appeal for Rs 158 crore settlement
After getting the approval, the Board can be completely assured of receiving its dues. Byju’s and BCCI (Image Credit- Twitter On August 2, an unprecedented decision has come to light regarding the pending sponsorship amount between the Board of Control for Cricket in India (BCCI) and BYJU’s. It is worth noting that the edtech giant BYJU’s was the prime sponsor of the Indian cricket team in the past. So, according to a petition filed by BCCI in the National Law Company Appellate Tribunal (NCLAT), the board owed the company about Rs 158 crore of sponsorship. But now in a decision of NCLAT on August 2, the settlement of BCCI’s dues has been approved. After this decision of the tribunal, BCCI can be completely sure about getting its dues. Although Byju’s founder Byju Ravindran is going to pay this outstanding amount with the help of his brother Reju, he has put a condition in front of the Apex Cricket Board that the bankruptcy (defaulter) process against the company should be stopped immediately. The tribunal has also accepted this demand of the company. After this decision, it is expected that the Interim Resolution Professional (IRP) will no longer interfere in the operations of BYJU. On the other hand, Bar & Bench reports that the settlement decision is being opposed by one of BYJU’s creditors and an American firm GLAS Trust Company LLC. This company believes that BYJU’s is making this settlement with stolen money. Union ministry asks BCCI to stop tobacco advertisements during matches It is worth noting that recently the Health Ministry asked BCCI to ban those advertising brands which promote tobacco and tobacco products. The ministry strictly told the board not to show any such advertisements during breaks during broadcasting and live streaming. Also, such advertisements should not be included in the hoardings present in the stadium.
