Byju's faces legal battle with BCCI over sponsorship termination
Byju’s has been dragged to court by Indian cricket administrator Board of Control for Cricket in India (BCCI), likely in relation to the former’s title sponsorship rights’ termination.
“We are in discussions with the BCCI to settle the matter and we hope to achieve that soon,” a Byju’s spokesperson told ET. The BCCI did not immediately respond to ET’s request for comment.
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Offering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitThe complaint has been registered with the Bengaluru bench of the National Company Law Tribunal (NCLT). To further decide on the case, Justices K Biswal and Manoj Dubey have scheduled the next hearing for December 22.
The complaint representing BCCI was filed by Argus Partners’ associate Ann Pereira in September. This comes as a one of many recent legal blows to have hit the Bengaluru-based edtech startup.
The development was first reported by The Morning Context.
In November 2022, BCCI had received an email from Byju's requesting terminating an association post the recently concluded T20 World Cup. This was against BCCI's wishes, which was to ask Byju's to continue the partnership until at least March 31, 2023.
Last week, the Enforcement Directorate (ED) said it has issued show cause notices to edtech firm Byju’s parent Think & Learn and its chief executive Byju Raveendran for alleged violations of Foreign Exchange Management Act (FEMA) involving an amount of Rs 9,362.35 crore.
Earlier in the month, the troubled edtech firm finally reported
