SUMMARY
The Bengaluru bench of the NCLT scheduled the next hearing in the matter on March 20
During the hearing on Wednesday, BYJU’S counsels once again pushed for the case to be taken to arbitration
The BCCI dragged the embattled company to the Tribunal over alleged pending dues of INR 158 Cr as part of a sponsorship deal
The National Company Law Tribunal’s (NCLT) Bengaluru bench on Wednesday (March 13) scheduled the next hearing in the insolvency plea filed by the Board of Control for Cricket in India (BCCI) against embattled edtech startup BYJU’S on March 20.
The Tribunal is likely to pronounce its order in the case next week after the conclusion of arguments from both sides, CNBC-TV18 reported.
Sources told Inc42 that BYJU’S counsels once again pushed for the case to be taken to arbitration.
They argued that the BCCI did not render any service post the culmination of the contract between the two parties. Thus, the BCCI’s claims of pending dues to the tune of INR 158 Cr from BYJU’S cannot be considered as an operational credit, the sources said.
The company’s lawyers said that invoices for the earlier contract have been paid and the present claim is for the period post expiry of the Agreement.
At the heart of the case is a battle between the cricket body and its erstwhile sponsor over the latter’s non payment of dues as part of its jersey sponsorship deal.
In December, the NCLT issued a notice to the decacorn in connection with the BCCI’s insolvency petition filed in November.
The edtech major previously claimed before the NCLT that it was in talks with the BCCI to settle the payment dispute. However, the cricketing body denied that any such negotiations were underway.
