BCCI’s plea against former sponsors BYJU’s admitted by NCLT

The Board of Control for Cricket in India (BCCI) has seen its plea for insolvency against former sponsor BYJU’s. It is to be noted that BYJU’s haven’t paid the BCCI the money that they were owed. This has seen the National Company Law Tribunal (NCLT) appoint Pankaj Srivastava as a temporary charge part of the resolution panel. 

The order from NCLT read “The interim resolution professional shall after collation of all the claims received against Think and Learn PVT LTD the corporate debtor and the determination of the financial position of the Corporate debtor, constitute a committee of Creditors”

Till the time the dues aren’t paid BYJU’s will see their current monetary resources will be kept under watch. BYJU’s owes the Indian Cricket Board over INR 158 Crores and this has been a huge point in the thaw between the two parties. 

BYJU’s releases statement 

Once known to be a huge player in the education sector released a statement which read “As we have always maintained, we wish to reach an amicable settlement with the BCCI and we are confident that, despite this order, a settlement can be reached. In the meantime, our lawyers are reviewing the order and will take necessary steps to protect the company’s interests”

Meanwhile, the BCCI is set to take a call on the next T20I skipper. In a report carried by Indian Express, the selectors are looking to pick Suryakumar Yadav as the next skipper of the side. The final decision is set to be taken soon when the board meets Gautam Gambhir. 

One unnamed BCCI source speaking to Indian Express said “It is a delicate matter. There is an argument on both sides of the debate, and thus, everyone is not on the same page. Hardik’s fitness is an issue but he played a big role in breaking India’s ICC jinx”     

The source in question also said “As for Suryakumar, we have received feedback from the team that his captaincy style was well received by the dressing room”. It is to be seen who makes it to the Indian team for the tour of Sri Lanka which has 3 T20I and ODI matches.