After BCCI and Teleperformance, Oppo files an insolvency plea against Byju’s

Oppo has filed an insolvency plea against Byju’s with the Bengaluru bench of the National Company Law Tribunal (NCLT). With this plea, the Chinese smartphone maker aims to recover its dues and joins a long list of operational creditors with cases against the struggling edtech firm. The smartphone company wants NCLT to initiate a corporate insolvency resolution process against Byju’s under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. This section allows an operational creditor to initiate an insolvency process when a company fails to pay its dues.

Companies that have filed insolvency pleas against Byju’s

Oppo became the seventh company to file an insolvency plea against the ed-tech company. Apart from Oppo, two other companies recently filed insolvency pleas against Byju's. These pleas were filed by US-based publishing company McGraw Hill education and end-to-end customer experience solutions company Cogent E-services. The hearings of these cases are likely to be held in the last week of May or the first week of June.

In November 2023, the Board of Control for Cricket in India (BCCI) filed the first insolvency plea against Byju's. The cricket board claimed that the ed-tech firm defaulted on a payment of Rs 158 crore. This plea is currently at an advanced stage of hearing at the NCLT.


Other companies like France-based Teleperfomance Business Services, Glas Trust Company (in the US) and a digital marketing firm named Surfer Technologies have all filed insolvency pleas against Byju’s. The ed-tech company is also fighting an oppression and mismanagement plea filed by its investors in the NCLT.

Last month, NCLT imposed a Rs 20,000 fine on Byju’s for failing to reply to a petition filed by Surfer Technologies. Byju's India CEO Arjun Mohan also stepped down seven months after taking office in April. Moreover, the company's outstanding debt has increased to more than $200 million in India and around $200-250 million in the US.