NCLT issues notice to Byju's over BCCI plea claiming Rs 158 cr default
New Delhi, Dec 4: 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 crore 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 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.
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Man mowed down by speeding car in Bengaluru
Bengaluru (PTI): A man was allegedly mowed down by a speeding car on MG Road in the heart of the city on early Friday morning, police said.
Srinivas, who was in his late 50s, died on the spot in the accident that occurred at Anil Kumble Junction here, they said.
According to police, the accident occurred at around 4.30 am. Srinivas was walking along the side of the road when a car travelling at high speed allegedly hit him with immense force. The driver of the offending vehicle fled the spot.
The impact of the accident was so severe that Srinivas died on the spot, a senior police officer said.
A case of accident under Section 106 of the Bharatiya Nyaya Sanhita for causing death due to negligence has been registered, he said.
CCTV cameras installed in the area are being analysed to identify the offending vehicle, police said, adding that further investigation is underway.
