NCLT reserves orders in Oppo, Surfer technology's insolvency pleas against Byju's

On July 3, the National Company Law Tribunal (NCLT) in Bengaluru reserved judgment on insolvency pleas filed by mobile phone maker Oppo and telemarketing company Surfer against Byju's. Byju's argued that neither Oppo nor Surfer qualifies as a creditor under the Insolvency and Bankruptcy Code (IBC), 2016, and questioned the authenticity of claims. Oppo seeks ₹13 crore for preinstalling Byju’s app, while Surfer claims ₹2.3 crore for lead generation services. The tribunal also adjourned pleas from McGraw Hill, Cogent E Services, and Galaxy Office Automation.