NCLT issues notice in Oppo's insolvency plea against Byju's

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.

Apart from Oppo, two new insolvency pleas have been filed against Byju's  in the last one week. They were filed by US based publishing company McGraw Hill education and  end-to-end customer experience solutions company Cogent E-services. The addition of three pleas take the total number of insolvency pleas filed against Byju's to seven. The ed tech company is fighting an oppression and mismanagement plea filed by its investors in the NCLT.

While Cogent E-services filed its plea as early as February 2024, MCGraw Hill and Oppo filed their plea in March, however all these three pleas were registered in the NCLT in the last one week. These cases are likely to come up for hearing in the last week of May or the first week of June.