Insolvency Proceedings against Byjus on default of Rs. 158 Crores: NCLT admits Plea by BCCI

The National Company Law Tribunal (NCLT) has admitted a plea against BYJU's for defaulting on ₹158 crores, filed by the Board of Control for Cricket in India (BCCI). The plea alleges non-payment for services rendered. BYJU's, a prominent ed-tech company, faces insolvency proceedings under the Insolvency & Bankruptcy Code (IBC). The tribunal's decision marks a significant legal development in corporate compliance and governance. This case underscores the intersection of corporate law and financial management, highlighting the implications of default on contractual obligations