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 crores 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 a 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.” The tribunal has directed to list the matter on December 22, 2023, for the next hearing in this matter.

During the proceedings, BCCI’s counsel informed NCLT that a general notice was issued to Byju’s through an e-mail dated January 6, 2023, with a default amount of Rs 158 crore, excluding TDS.

Byju’s first came on board back in 2019 when mobile manufacturer Oppo transferred the sponsorship rights to the online tutorial firm.

Dream XI, a popular fantasy gaming platform, would become the main sponsor for India after the tenure with Byju’s came to an end. Dream XI acquired the Team India jersey lead sponsorship rights from 2023-27, replacing ed-tech firm, which was the sponsor from 2019 till March 2023.

India have been playing with Dream XI as the main sponsor since the beginning of the West Indies tour. The World Cup 2023 campaign also saw the popular fantasy gaming platform act as the main sponsors.