Argus Partners 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).
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