New Delhi: Troubled ed-tech company Byju’s is facing fresh challenges as the Board of Control for Cricket in India (BCCI) has dragged the firm to the National Company Law Tribunal, the adjudicator’s website says.
The top cricket body in India slapped the case on September 8 but it was officially admitted more than two months later on November 15.
The hearing for the dispute between the BCCI and Think and Learn Pvt Ltd, the parent company of Byju’s, was slated for November 28, as indicated by details found on the NCLT website.
The NCLT website says the case is scheduled to be heard on December 22 again.
According to a Moneycontrol report, a spokesperson for BYJU'S said, “We are in discussions with the BCCI to settle the matter, and we hope to achieve that soon.”
The development was first reported by The Morning Context.
The dispute comes after Byju's announced that it would not continue branding partnerships due to cost-cutting measures.
Earlier in the year, Byju's, which had branding collaborations with top sports entities like BCCI, ICC (International Cricket Council), and FIFA (Federation Internationale de Football Association), all slated for renewal in 2023, officially declared that it would not be extending any of these partnerships.
It is not clear whether the lawsuit filed is connected to the non-renewal of these agreements or a different issue.
This new development comes amid the Enforcement Directorate’s (ED) show cause notice to the ed-tech firm Think and Learn Private Limited and Byju Raveendran regarding a FEMA violation case.
According to a Moneycontrol report, Byju's faced criticism for once again postponing the complete and final settlements for employees who were laid off. The company, based in Bengaluru, had initially deferred the payment date from September to November.
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