NCLT notice to Byju’s over ₹158 crore BCCI dues
1 year ago

NCLT notice to Byju’s over ₹158 crore BCCI dues

Hindustan Times  

The Board of Control for Cricket in India has approached the National Company Law Tribunal in Bengaluru to initiate corporate insolvency proceedings against its former sponsor Byju’s for alleged default in the payment of Rs158 crore. A man walks past an advertising hoarding of Byju's, an Education Technology company and one of India's biggest startup, outside one of its branches in New Delhi The tribunal has issued notice to the ed tech major and its response has been sought. It amounted to paying BCCI Rs4.61 crore per bilateral match and Rs1.51 crore per match in an ICC event. However, its business ran into trouble and to cut heavy marketing spends it wrote to BCCI seeking the encashment of its contract bank guarantee amounting to Rs140 crore.

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History of this topic

BCCI seeks withdrawal of insolvency proceedings against Byju’s
1 month, 1 week ago

BCCI seeks withdrawal of insolvency proceedings against Byju’s

Live Mint  

The Board of Control for Cricket in India on Tuesday sought an urgent hearing for its plea to withdraw an insolvency case against edtech firm Byju’s. The BCCI’s counsel requested that the NCLT in Bengaluru prioritize the withdrawal application, arguing that if the withdrawal is granted, it would render other pleas, such as those by US-based Glas Trust and Aditya …

Byju’s insolvency case: Supreme Court reserves judgment on challenge to NCLAT’s stay order
2 months, 4 weeks ago

Byju’s insolvency case: Supreme Court reserves judgment on challenge to NCLAT’s stay order

The Hindu  

The Supreme Court on Thursday reserved its judgment on an appeal filed by of U.S.-based creditor Glas Trust Company LLC against a judgment of the National Company Law Appellate Tribunal allowing the ed-tech firm Byju’s to pay a settlement amount of ₹158 crore to the Board of Control for Cricket in India. During back-to-back hearing in the case, the apex …

Supreme Court Stays NCLAT Order Allowing BCCI-BYJU's Settlement Worth Rs 158 Crore
4 months, 1 week ago

Supreme Court Stays NCLAT Order Allowing BCCI-BYJU's Settlement Worth Rs 158 Crore

ABP News  

Supreme Court on Wednesday stayed the National Company Law Appellate Tribunal order that allowed Board of Control for Cricket in India to settle its dues with Byju on latter paying Rs 158 crore. On August 2, the NCLAT Chennai Bench allowed settlement between BCCI and Byju which involves the repayment of Rs 158 crores to the BCCI. Folllowing this order …

NCLAT tells Byju Raveendran to file details of source of funds for settling dues to BCCI
4 months, 3 weeks ago

NCLAT tells Byju Raveendran to file details of source of funds for settling dues to BCCI

The Hindu  

National Company Law Appellate Tribunal Chennai on Wednesday told Byju Raveendran to file details of the source of funds through which he is proposing to settle the dues to Board of Control for Cricket in India. Byju Raveendran, the suspended director, shareholder and promoter of the edtech company had moved an appeal against NCLAT, after the National Company Law Tribunal, …

Indian startup Byju's nears settlement in cricket board dispute, sources say
4 months, 3 weeks ago

Indian startup Byju's nears settlement in cricket board dispute, sources say

Hindustan Times  

By Juveria Tabassum and Aditya Kalra Indian startup Byju's nears settlement in cricket board dispute, sources say NEW DELHI, - Education technology company Byju's is close to settling a $19 million payments dispute with the Indian cricket board, which could free the business from an insolvency process that has frozen the assets of what was once India's biggest startup, said …

After BCCI files plea over unpaid dues, Byju’s to appeal insolvency proceedings: Reports
5 months, 1 week ago

After BCCI files plea over unpaid dues, Byju’s to appeal insolvency proceedings: Reports

The Hindu  

After a plea filed by the Board of Control for Cricket in India over unpaid dues related to sponsorship rights, India’s edtech firm Byju’s parent company, Think and Learn Pvt Ltd, will challenge the insolvency proceedings against it in an attempt to block the process this week, two sources said on Wednesday. The National Company Law Tribunal in Bengaluru on …

Byju's journey from startup star to facing insolvency: All you need to Know
5 months, 1 week ago

Byju's journey from startup star to facing insolvency: All you need to Know

Business Standard  

The Indian cricket board last year asked a tribunal to initiate insolvency proceedings against Byju's for defaulting on $19 million of dues. Indian edtech company Byju's was staring at insolvency proceedings on Tuesday following a tribunal order, deepening a crisis that has seen the one-time market darling's valuation plunge from about $22 billion to less than $2 billion. Byju's has …

NCLT admits insolvency proceedings against Byju’s
5 months, 1 week ago

NCLT admits insolvency proceedings against Byju’s

New Indian Express  

BENGALURU: The National Company Law Tribunal, Bengaluru bench, on Tuesday admitted an insolvency petition filed by the Board of Control for Cricket in India against edtech firm Byju’s over a Rs 158 crore debt. Byju’s, reached its peak valuation of $22 billion in 2022, has to face insolvency proceedings. According to sources, Byju’s is planning to challenge the order at …

NCLT starts insolvency proceedings against Byju's
5 months, 1 week ago

NCLT starts insolvency proceedings against Byju's

The Hindu  

An Indian tribunal on July 16 started insolvency proceedings for EdTech firm Byju's after the country's cricket board complained about failure to recover $19 million in dues, dealing another blow to a company that was once India's biggest startup. Byju's has suffered numerous setbacks in the past few years, leading to a crisis of investor confidence, thousands of job cuts …

BCCI claim BYJU's defaulted on Rs 158 crore payment, NCLT issues notice
1 year ago

BCCI claim BYJU's defaulted on Rs 158 crore payment, NCLT issues notice

Firstpost  

A two-member Bengaluru-based bench of the NCLT issued a notice to Think & Learn earlier this month on 28 November In a sensational turn of events, the Board of Control for Cricket in India is understood to have claimed that ed-tech company BYJU’s has defaulted on payment of Rs 158 crore. The report went on to state that acknowledging BCCI’s …

NCLT Bangalore: BCCI Files Petition U/S 9 IBC Against Byju’s Over Unpaid Dues.
1 year ago

NCLT Bangalore: BCCI Files Petition U/S 9 IBC Against Byju’s Over Unpaid Dues.

Live Law  

The Board of Control and Cricket in India has moved to the National Company Law Tribunal Bengaluru, Bench against edtech major Byju’s over pending dues related to the sponsorship of the Indian cricket team’s jerseys. A petition has been filed under Section 9 of the Insolvency and Bankruptcy Code, against the parent company of Byju’s i.e., Think & Learn Pvt …

BCCI announces release of Invitation to Tender for Title Sponsor Rights for own events
1 year, 4 months ago

BCCI announces release of Invitation to Tender for Title Sponsor Rights for own events

India TV News  

The Board of Control for Cricket in India invited bids from "reputed entities" for acquiring the title sponsorship rights of its events on Tuesday, August 1. "The detailed terms and conditions governing the tender process including eligibility requirements, process for submissions of bids, rights and obligations, etc. Notably, based on several reports one of the leading fantasy gaming platforms in …

BCCI announces Dream11 as India’s new lead sponsor for three years
1 year, 5 months ago

BCCI announces Dream11 as India’s new lead sponsor for three years

The Hindu  

The Board of Control for Cricket in India signed a three-year sponsorship deal with fantasy sports gaming platform Dream11 Saturday. “Dream11 will be seen on Team India jerseys starting from the Test series against the West Indies, the team’s first assignment in the ICC World Test Championship 2023-25 cycle,” the BCCI states in a press release. Board president Roger Binny …

Dream11 to replace Byju's as Indian cricket team lead sponsor
1 year, 5 months ago

Dream11 to replace Byju's as Indian cricket team lead sponsor

Firstpost  

BCCI’s deal with Dream11 will run for a period of four years. Popular fantasy gaming platform Dream11 is set to replace Byju’s as the Team India jersey sponsor. The Board of Control for Cricket in India had announced an invitation to tender for the lead sponsor rights for the national team on 14 June and News18CricketNext has learnt of Dream11 …

BCCI sets INR 350 crore base price for national team Lead Sponsorship Rights - Report
1 year, 5 months ago

BCCI sets INR 350 crore base price for national team Lead Sponsorship Rights - Report

India TV News  

Board of Control for Cricket in India is now busy finding an entity that an acquire lead sponsorship rights of the national team. According to reports, BCCI has also set the base price of INR 350 crore to acquire the rights. The tenure period has ended now and if the reports are to be believed, the base price for bilateral …

BCCI Bans Certain Brand Categories From Sponsoring Team India - Details
1 year, 6 months ago

BCCI Bans Certain Brand Categories From Sponsoring Team India - Details

ABP News  

The Board of Control for Cricket in India recently invited bids from interested businesses for acquiring the lead sponsorship rights of the National Cricket Team, across formats, after Ed-Tech major BYJUs decided to terminate their deal with the board at the end of the last financial year. The new lead sponsors of Indian cricket team's jersey are set to get …

BCCI invites tender for Indian team lead sponsorship rights
1 year, 6 months ago

BCCI invites tender for Indian team lead sponsorship rights

Firstpost  

BYJUs, which had cut down on its branding, had a US$35 million deal for the most visible space on the Indian men’s team jersey the front, but backed out of the deal at the end of the last financial year. New Delhi: The BCCI invited tender applications from interested business houses for national cricket team’s lead sponsorship rights after Ed-Tech …

Byju's seeks to terminate jersey sponsorship deal with BCCI; kit sponsor MPL also wants to exit
2 years ago

Byju's seeks to terminate jersey sponsorship deal with BCCI; kit sponsor MPL also wants to exit

Firstpost  

In June, Byju’s had extended its jersey sponsorship agreement with the Board until November 2023 for an estimated $35 million. New Delhi: Two of Indian cricket team’s main sponsors, edtech major Byju’s and MPL sports, want to exit from their sponsorship agreements with the BCCI. “BCCI received an email from Byju’s on 4.11.2022 requesting terminating the association post the recently …

BCCI Apex Council meeting: No discussions on Team India’s performance, status of jersey sponsors discussed
2 years ago

BCCI Apex Council meeting: No discussions on Team India’s performance, status of jersey sponsors discussed

The Hindu  

Contrary to speculations that the Board of Control for Cricket in India would review the Indian team’s performance in the T20 World Cup and the recently-concluded ODI series against Bangladesh, the apex council did not even discuss the issue as it was not part of the agenda. The apex council discussed the status of two of its premier jersey sponsors …

Paytm keen to end title sponsorship with BCCI; Byju's to pay Rs 86.21 crore to the board
2 years, 5 months ago

Paytm keen to end title sponsorship with BCCI; Byju's to pay Rs 86.21 crore to the board

India TV News  

In a recent turn of events and after a long discussion in the BCCI Apex Council on Thursday, it is now being learned that edtech giant Byjus will have to pay 86.21 crores to the BCCI and the board's title sponsor Paytm too has expressed their wish to end the partnership and transfer its rights to a third party. "As …

BYJU’s extends the iconic India Cricket Team sponsorship
2 years, 5 months ago

BYJU’s extends the iconic India Cricket Team sponsorship

Live Mint  

Bengaluru: BYJU'S, one of the world's biggest edutech brands will continue to be on one of the world's most sought-after patches of sporting real estate - the space on the front of the India cricket team's jersey. BYJU'S - a natural fit considering how much overlap there is between the prime cricket-watching audience and their target audience - was brought …

BCCI doesn't respect sentiments of Indians: Traders' body CAIT fumes over Dream11 winning IPL 2020 title rights
4 years, 4 months ago

BCCI doesn't respect sentiments of Indians: Traders' body CAIT fumes over Dream11 winning IPL 2020 title rights

India Today  

Traders' body, Confederation of All India Traders has written a letter to Sports Minister Kiren Rijiju, urging him to intervene in the Indian Premier League title sponsorship after the Board of Control for Cricket in India awarded the rights to Dream11 on a 1-year deal on Wednesday. CAIT alleged that the BCCI has 'hoodwinked the people of India' and its …

IPL title rights: BCCI likely to ask Dream11 to revisit bids for 2021 and 2022
4 years, 4 months ago

IPL title rights: BCCI likely to ask Dream11 to revisit bids for 2021 and 2022

Live Mint  

They have won the IPL title rights for this season but whether fantasy gaming platform Dream11 hold on to that for the next two editions will depend on how high they raise the bid as the BCCI is unwilling to settle for the current offer. According to BCCI sources, this is precisely the reason why the board has not yet …

IPL 2020 title sponsorship hits roadblock a day after Dream11's Rs 222 crore bid
4 years, 4 months ago

IPL 2020 title sponsorship hits roadblock a day after Dream11's Rs 222 crore bid

India Today  

The title sponsorship rights saga for the Indian Premier League 2020 is far from a closed deal. Dream11 on Tuesday emerged as the highest bidder for IPL 2020 title sponsorship with a bid of Rs 222 crore. While market analysts had predicted a dip in the money for IPL 2020 title sponsorship due to the novel coronavirus pandemic, the BCCI …

Gaming firm is the winner of cricket’s biggest title deal
4 years, 4 months ago

Gaming firm is the winner of cricket’s biggest title deal

Live Mint  

Fantasy gaming platform Dream11 on Tuesday won the title sponsorship for the upcoming Indian Premier League for ₹222 crore, almost half of what India’s cricket board would have got had Chinese phone maker Vivo stayed as the title sponsor. Amid anti-China sentiments following the Ladakh border clash where 20 Indian soldiers died, the Board of Control for Cricket in India …

Dream11 agrees to 1-year deal, will remain title sponsors only for IPL 2020
4 years, 4 months ago

Dream11 agrees to 1-year deal, will remain title sponsors only for IPL 2020

India Today  

Sports fantasy platform Dream11 is all set to be title sponsors of Indian Premier League for only the 13th edition of the tournament which will be played in the UAE from September 19 to November 10, 2020. The Board of Control for Cricket in India had pushed back on Dream11's conditional 3-year bid after it topped the bidding war on …

Dream11: All you need to know about IPL 2020's title sponsor
4 years, 4 months ago

Dream11: All you need to know about IPL 2020's title sponsor

The Hindu  

When Harsh Jain and Bhavit Sheth founded a sports fantasy application way back in 2008, both of them were studying engineering overseas. A little over a decade since, the co-founders of Dream11 earned their biggest hype on Tuesday, with their prized possession having bagged the title sponsorship rights for the Indian Premier League’s 2020 edition. Even before both Jain and …

With IPL 2020 title sponsorship, Dream11 is living the fantasy
4 years, 4 months ago

With IPL 2020 title sponsorship, Dream11 is living the fantasy

The Hindu  

When Harsh Jain and Bhavit Sheth founded a sports fantasy application way back in 2008, both of them were studying engineering overseas. A little over a decade since, the co-founders of Dream11 earned their biggest hype on Tuesday, with their prized possession having bagged the title sponsorship rights for the Indian Premier League’s 2020 edition. Even before both Jain and …

Indian Premier League 2020 | Dream11 wins title sponsorship rights
4 years, 4 months ago

Indian Premier League 2020 | Dream11 wins title sponsorship rights

The Hindu  

Dream11, a fantasy sports application, has bagged the title sponsorship rights for the Indian Premier League’s 2020 edition for ₹222 crore. The BCCI was last week forced to invite EoI for IPL title sponsorship rights following Vivo India’s pull-out barely six weeks before the start of the tournament, to be played from September 19 to Nov. 10. Investigation Meanwhile, FanCode, …

Dream11 wins IPL 2020 title sponsorship with bid of Rs 222 crore
4 years, 4 months ago

Dream11 wins IPL 2020 title sponsorship with bid of Rs 222 crore

India Today  

Fantasy sports platform Dream11 has been announced as the new title sponsors for the Indian Premier League 2020. Dream11 won the rights with a bid of Rs 222 crore in Tuesday's bidding process. While Dream11 made a bid of Rs 222 crore, Byju's bid Rs 201 crore and Unacademy Rs 170 crore. The IPL 2020 title rights, the BCCI had …

IPL 2020: Dream 11 wins title sponsorship rights for Rs 222 crore
4 years, 4 months ago

IPL 2020: Dream 11 wins title sponsorship rights for Rs 222 crore

The Hindu  

Fantasy sports platform Dream11 has bagged the title sponsorship rights for the Indian Premier League’s 2020 edition with a bid of ₹222 crore. READ: Delhi Capitals replaces Woakes with Nortje IPL chairman Brijesh Patel confirmed to Sportstar on Tuesday that Dream11 was finalised after “evaluating the three bids that were submitted during the prescribed window earlier today”. The Board of …

Dream11, fantasy cricket app, bags IPL 2020 title sponsorship rights for Rs 222 crores
4 years, 4 months ago

Dream11, fantasy cricket app, bags IPL 2020 title sponsorship rights for Rs 222 crores

India TV News  

Dream11 has won the race for IPL 2020 title sponsorship rights, the tournament's chairman Brijesh Patel confirmed on Wednesday. The online fantasy gaming application won the title rights for Rs. The IPL title rights were up for grabs after Vivo, which annually paid Rs 440 crore, dropped out as title sponsor this year due to the Sino-India border stand-off. Dream11 …

Indian government gives BCCI approval to host IPL 2020 in UAE - Cricket News
4 years, 4 months ago

Indian government gives BCCI approval to host IPL 2020 in UAE - Cricket News

The Hindu  

The Board of Control for Cricket in India has received formal approval to stage the 2020 edition of the Indian Premier League in the United Arab Emirates, clearing the way for the marquee Twenty20 tournament to be held between September 19 and November 10 in Dubai, Abu Dhabi and Sharjah. Brijesh Patel, chairman of the IPL governing council, confirmed to …

IPL Governing Council to review Chinese sponsorship deals
4 years, 6 months ago

IPL Governing Council to review Chinese sponsorship deals

The Hindu  

The Indian Premier League Governing Council has convened a meeting next week to discuss the tournament’s various sponsorship deals. READ: Vivo to remain IPL title sponsor for now The Chinese mobile phone brand bagged the sponsorship rights in 2018 for five years for Rs 2,199 crore. READ: Harbhajan Singh supports boycott of Chinese goods However, on Friday, the IPL put …

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