BCCI: Edtech company Byju’s, which is facing bankruptcy proceedings for not being able to pay BCCI, has been accused of stealing money. The US financial creditor has opposed the payment and said that Byju’s is using this money to pay BCCI. Earlier on Wednesday, BCCI told the National Company Law Appellate Tribunal (NCLAT) that it has reached a settlement with Byju’s in the case of Rs 158 crore.
BCCI said that the money will be received in 3 installments
BCCI, the body that controls Indian cricket, told the tribunal that Byju Raveendran’s brother Riju Raveendran has paid Rs 50 crore on Tuesday. After this, Rs 25 crore will be paid on Thursday. The remaining Rs 83 crore will be paid on August 8.
Byju and Riju Ravindran made Rs 500 crores disappear
On the other hand, the lawyer of the American financial creditor, Mukul Rohatgi, told NCLAT that according to the American court, Byju Ravindran and Riju Ravindran had made Rs 500 crores disappear as part of a conspiracy. He alleged that in the midst of these financial crises, Byju Ravindran has fled to Dubai. Now, the BCCI is being paid from this money. The American financial creditor claimed to the tribunal that this is their money. Therefore, payment should not be allowed. He termed Byju Ravindran as a person who is running away from justice.
BCCI said- we will never accept tainted money
BCCI lawyer Harish Salve told NCLAT that he will never accept tainted money. The allegations of the American financial creditor are not logical. However, the creditors urged NCLAT to take it in writing from Byju that this money does not belong to Byju Ravindran. Earlier, the interim resolution professional appointed for the bankruptcy process had alleged that Byju has not given him any access even after 16 days have passed. Byju is not cooperating with him.
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