Settlement between BCCI and BYJU'S: There was a time when Rohit Sharma, Virat Kohli's jerseys had the Byjus logo painted on them. Byjus was the sponsor of the Indian cricket team at that time. But just like the rise of their rocket speed, Byjus has had its downfall. The company's brand value has plummeted from $22 billion. Rabindran's EDTECH company had to leave the sponsorship of the Indian cricket team midway in this situation.

Meanwhile, BCCI had complained that Byjus had not paid the full amount as per the sponsorship agreement. In this situation, the Indian Cricket Board approached the NCLT. After that, Byjus started the process of declaring bankruptcy. All the properties of Byjus were confiscated. But this time it is known that Baijus is coming to an understanding with BCCI to settle their dues.

On 25 July 2019, 'Team Sponsorship Agreement' was signed between Byju's and BCCI. This contract ended in 2022, but later it was extended till 2023. In January 2023, Byju's, facing financial troubles, had announced that it would not renew its contract with BCCI. On September 8, 2023, BCCI had filed an insolvency petition against the company in NCLAT. BCCI said that the company has defaulted on their payment.

Now EDTECH company Byju's and BCCI have agreed to settle the dispute related to dues of Rs 158 crore. The lawyers of company founder Byju Raveendran gave this information in the National Company Law Appellate Tribunal (NCLAT) on July 31.

According to reports, Byju's has proposed to pay the dues to the BCCI in three installments. Baijus will pay Rs 50 crore to BCCI in the first installment. After that, Baijus is supposed to pay the remaining 110 crore rupees in the remaining two installments.

This payment to BCCI will be made in installments on 2nd and 9th August. Byju Raveendran's brother Riju will make this payment. Riju is one of the largest shareholders of the company.

Note that ED has been eyed on Byju's for a long time. According to investigators, the company received foreign direct investment or FDI worth a total of Rs 28,000 crore between 2011 and 2023. At the same time, about 9 thousand 754 crores have been sent to different countries in the name of foreign direct investment. Meanwhile, the organization has sent 944 crore rupees out of the country in the name of advertising abroad. However, the company has not prepared and audited its financial statements on time from the financial year 2020-21.