{"id":834065,"date":"2024-07-18T11:11:48","date_gmt":"2024-07-18T05:41:48","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=834065"},"modified":"2024-07-18T11:16:22","modified_gmt":"2024-07-18T05:46:22","slug":"nclt-admits-bccis-plea-seeking-insolvency-proceedings-against-byjus","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/07\/18\/nclt-admits-bccis-plea-seeking-insolvency-proceedings-against-byjus\/","title":{"rendered":"NCLT admits BCCI\u2019s plea seeking insolvency proceedings against Byju\u2019s"},"content":{"rendered":"<p>The Bengaluru bench of National Company Law Tribunal (NCLT) on Tuesday admitted the application of the Board of Control for Cricket in India (BCCI) for initiation of corporate insolvency proceedings against Think &amp; Learn Private Ltd, the parent company of ed-tech firm Byju\u2019s, for defaulting on an amount of Rs 158.90 crore.<\/p>\n<p>The move sets the stage for Byju Raveendran, the founder of what was once India\u2019s most valued startup that used to sponsor the national cricket team, to lose control of his company following the bench\u2019s nod for initiating insolvency proceedings against the edtech firm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bengaluru bench of National Company Law Tribunal (NCLT) on Tuesday admitted the application of the Board of Control for Cricket in India (BCCI) for initiation of corporate insolvency proceedings against Think &amp; Learn Private Ltd, the parent company of ed-tech firm Byju\u2019s, for defaulting on an amount of Rs 158.90 crore. The move sets the stage for Byju Raveendran, the founder of what was once India\u2019s most valued startup that used to sponsor the national cricket team, to lose control of his company following the bench\u2019s nod for initiating insolvency proceedings against the edtech firm.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-834065","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/834065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=834065"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/834065\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=834065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=834065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=834065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}