NCLT issues notice to Byju's on insolvency plea filed by a French firm
Teleperformance, which provided business process outsourcing services to Byju's, says the Indian ed-tech firm owes it more than Rs 4 crore
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Teleperformance, which provided business process outsourcing services to Byju's, says the Indian ed-tech firm owes it more than Rs 4 crore
Appearing for BCCI, senior counsel Nandakumar argued that they have filed their objections against Byju's application. He told the court that an application to refer a dispute to arbitration is not maintainable in insolvency proceedings.
Teleperformance alleges that Byju has defaulted on payment of Rs 4.82 crore, excluding Rs 21 lakh interest to the company in lieu of business process outsourcing services provided by the company.
During the course of the hearing, Surfer argued that Byju's owes them Rs. 2.3 crore and all of them are admitted debts.
The NCLT, Bengaluru has issued notice on a plea by digital marketing vendor Surfer Technologies seeking the initiation of insolvency proceedings against Think & Learn Pvt Ltd, parent company of edu-tech startup, Byju's