New Delhi: The Bengaluru bench of the National Company Law Tribunal (NCLT) Tuesday allowed the Board of Control for Cricket in India’s insolvency plea against ed-tech firm Byju’s parent company Think and Learn Pvt Ltd for defaulting on Rs 158.9 crore.
BCCI moved against Think and Learn after their Indian cricket team’s jersey sponsorship deal fell through in 2023, but Think and Learn opposed the insolvency proceedings on various grounds, including that the deal involved the transfer of certain rights only.
On Tuesday, NCLT’s Bengaluru bench, however, said that it was indisputable that Think and Learn availed BCCI’s services through sponsorship rights and was required to pay fees to the BCCI.
