OPPO claims BYJU'S owes ₹13 crore for app pre-installation
Chinese mobile phone manufacturer OPPO has accused edtech firm BYJU'S of owing it ₹13 crore. The claim, presented before the National Company Law Tribunal (NCLT) today, stems from an alleged breach of agreement by BYJU'S to preinstall its app on OPPO's phones. The NCLT in Bengaluru has adjourned the plea until July 3, a day now referred to as 'BYJU'S day' due to nearly 10 petitions related to the company scheduled for hearing.
BYJU'S promoters accused of absconding
OPPO has sought urgent orders from the NCLT, alleging that BYJU'S promoters are 'absconding' and no longer reside in India. However, advocate Pramod Nair representing BYJU'S strongly objected to the term 'absconding' being used to describe the promoters of the beleagured ed-tech firm. Nair requested an adjournment as all other cases related to BYJU'S are also listed for hearing on July 3.
BYJU'S settles one case, faces another insolvency plea
On Wednesday, it was reported that BYJU'S had settled a case with France-based Teleperformance Business Services. This plea is likely to be withdrawn. However, on the same day, another business services provider, iEnergizer, filed a new insolvency plea against BYJU'S. This maintains the number of insolvency pleas against the company.
BYJU'S financial difficulties and legal challenges continue
BYJU'S is currently facing financial difficulties after being barred by the NCLT from raising funds through a second rights issue. The company has challenged this order in the Karnataka High Court, but no stay order has been issued so far. On June 12, the NCLT directed BYJU'S to maintain status quo regarding existing shareholders and their shareholding and ordered them to provide complete details of the concerned escrow accounts from the opening of the rights issue on January 29.
