The National Company Law Tribunal (NCLT) in Bengaluru issued notice in an insolvency plea filed by mobile phone manufacturer Oppo against embattled ed-tech company Byju’s. The plea is now likely to come up for hearing again in the last week of May, as the tribunal will go on a summer break from May 3.
OPPO Mobiles filed a petition on May 1 in the Bengaluru bench of the National Company Law Tribunal (NCLT), seeking initiation of insolvency proceedings against troubled edtech major Byjus.
OPPOs petition, filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), was accepted by the tribunal.
OPPO is the latest in the growing list of entities, who dragged Byjus to the NCLT, including the Board of Control for Cricket in India (B…
Read the full article at: https://www.businesstoday.in/technology/news/story/troubles-mount-for-byjus-nclt-issues-notice-on-oppos-insolvency-plea-427900-2024-05-02