New Delhi: Claims raised by vendors against embattled Byju's before the National Company Law Tribunal (NCLT) have reached Rs 190 crore, with handset maker Oppo filing a fresh claim of Rs 1 crore, according to sources.
The crisis-hit company's rising claims come at a time when it has not been able to access the US$200 million it raised through a rights issue due to disputes with investors.
"A total of Rs 190 crore claims have been filed against Byju's before the NCLT. This also includes a claim of Rs 1 crore filed by Chinese mobile company Oppo," a source said.
Queries sent to Byju and Oppo on this matter did not elicit any response.
Indian cricket board BCCI has filed the largest claim against Byju's at Rs 158.9 crore, followed by Cogent E-Services at Rs 6.7 crore and Teleperform Business Services at Rs 5 crore.
“All the claims are under dispute and the actual outstanding would be less,” a source said.
A group of four investors - Prosus, General Atlantic, Sofina and Peak XV - with the support of other shareholders including Tiger and Owl Ventures, had approached the NCLT against the company management and the rights issue.
The company had closed a US$200 million rights issue in February at a valuation 99 per cent lower than its peak enterprise value of US$22 billion.
A majority of Byju's shareholders have approved the company's proposal to increase its authorized share capital to absorb US$200 million raised through the rights issue.
The next date of hearing in the case before NCLT Bengaluru is June 6.
The crisis-hit company's rising claims come at a time when it has not been able to access the US$200 million it raised through a rights issue due to disputes with investors.
"A total of Rs 190 crore claims have been filed against Byju's before the NCLT. This also includes a claim of Rs 1 crore filed by Chinese mobile company Oppo," a source said.
Queries sent to Byju and Oppo on this matter did not elicit any response.
Indian cricket board BCCI has filed the largest claim against Byju's at Rs 158.9 crore, followed by Cogent E-Services at Rs 6.7 crore and Teleperform Business Services at Rs 5 crore.
“All the claims are under dispute and the actual outstanding would be less,” a source said.
A group of four investors - Prosus, General Atlantic, Sofina and Peak XV - with the support of other shareholders including Tiger and Owl Ventures, had approached the NCLT against the company management and the rights issue.
The company had closed a US$200 million rights issue in February at a valuation 99 per cent lower than its peak enterprise value of US$22 billion.
A majority of Byju's shareholders have approved the company's proposal to increase its authorized share capital to absorb US$200 million raised through the rights issue.
The next date of hearing in the case before NCLT Bengaluru is June 6.
