As per reports, the dues cited were payable in respect of a contract to sponsor the jerseys of the Indian cricket team.
The sponsorship contract was entered into between BCCI and Byju’s initially in 2019, when it took over sponsoring the cricket team’s jerseys from mobile phone manufacturer OPPO.
As per reports, this contract initially ended in 2022 but it was later extended for 2023.
In January this year, amid reports of various other financial troubles for the EdTech company, Byju’s announced that it would not be renewing its sponsorship deal with BCCI as well as other partnerships with the International Cricket Council (ICC) and Fédération internationale de football association (FIFA).
More recently, it has been reported that Byju’s is in talks with the BCCI to settle the insolvency case before the NCLT.
Source: Barandbench
