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We are pleased to share that Argus Partners successfully represented the Board of Control for Cricket in India (“BCCI”) before the National Company Law Tribunal (“NCLT”),Bengaluru, on the admission of its insolvency proceedings against Think & Learn Private Limited, the parent company of ed-tech firm, BYJU’s.
The NCLT, Bengaluru, in its order noted that BYJU`s has defaulted on a debt amounting to Rs. 158 crores which they owed to the BCCI pursuant to the Indian cricket team’s jersey sponsorship deals. Thus, admitting the insolvency proceedings against BYJU`s, the NCLT, Bengaluru, has appointed Pankaj Srivastava as the interim resolution professional to oversee the operations and collate all the claims received against Think & Learn Private Limited till the formation of the Committee of Creditors (CoC).
The BCCI was represented by Senior Advocate C.K. Nandakumar, along-with the Team at Argus Partners comprising of Adity Chaudhury and Bhavya Mohan (Partners), Ann Pereira and Anjali Kutiyal (Associates), assisted by Anushkaa Shekhar, Navya Pathak and Mayuri Kalelkar (Associates).
Read more at: NCLT, Bengaluru Order, Bar & Bench, The Hindu, Business Today.