BYJU’S vs BCCI: BYJU’S Reportedly In “Good Health”?
On 28th Nov, BCCI took BYJU’S to NCLT, claiming BYJU’S owes INR 158 Cr in dues to BCCI in a dispute around sponsorship deals.
This dispute dates back to 2019 when BYJU’S took over the sponsorship rights of Indian cricket team from OPPO, until March 2022. But BYJU’S took over the sponsorship rights midway through OPPO’s tenure, continuing for 2.5 years.
BYJU’S wanted to extend the deal for $55 Mn, which fell apart as BYJU’S abruptly exited its jersey sponsorship deal with the BCCI in December 2022 due to rising financial and regulatory troubles.
Now, during the hearing of the plea filed by BCCI, NCLT inquired about BYJU’S current status, which one BYJU’S lawyer reported as “Good Health”.
NCLT acknowledged the case as “high profile” and emphasised the need for a prompt resolution and adjourned the hearing to January 17.
BYJU’S then told NCLT that it holds preliminary objections to BCCI’s plea and has been granted time to submit its formal response.