Byju’s co-founder Divya Gokulnath referred to news reports as hearsay in a furious LinkedIn post.
Her statement coincides with prior media reports that claimed that the edutech giant, the jersey sponsor for the Indian cricket team, owed the Board of Control for Cricket in India (BCCI) Rs. 86.21 crores in unpaid debts.
Byju’s co-founder Divya Gokulnath Rubbishes Claims That Byju’s Had Not Paid Dues To BCCI
The new deal between BCCI and Byju’s is being prepared but is yet to be signed. Certain reports had claimed that India’s jersey sponsor owed a whopping sum of INR 86.21 crore to the Board of Control for Cricket in India (BCCI). But in a recent turn of events, co-founder Divya Gokulnath claimed that the reports stating the company’s pending dues are fake.
“The bizarreness of the fake news story that we have not paid our dues to the BCCI was only matched by the urgency with which ‘media’ organizations ‘reported’ it. Even in this age of post-truth and verifying-after-reporting, we expect at least the real journalists to do some basic fact checks and not get swayed by hearsay and concocted stories by vested parties,” she wrote.
Byju’s and the BCCI extended their collaboration in April this year until the conclusion of the ODI World Cup, which is set to be hosted by India in 2023. The edutech giant agreed to give the Indian board a 10% raise on their previous accord, which led to the extension of the contract.
Byju’s first came on board back in 2019 when mobile manufacturer Oppo transferred the sponsorship rights to the online tutorial firm. The start-up last month said that 500 people have been laid after reports suggested more than 1000 were fired.
In another development, it has been learned that fintech company Paytm has requested the BCCI to assign their India Home Cricket title rights to Mastercard. The current agreement between Paytm and the BCCI runs from September 2019 to March 31, 2023.
“As they say, a lie travels around the world while the truth is putting its shoes on. The truth is now out with its shoes on,” Gokulnath added.
The Byju’s co-founder’s remarks were associated with a news report that refuted the allegations. Sources revealed to the publication that, while the new contract between BCCI and Byju’s is prepared, it hasn’t yet been signed. The money pending is for the number of matches played after the contract expired. Thus, the outstanding sum can only be paid out after the contract is signed.
Byju’s Had Paid BCCI All Past Due Amounts In Accordance With The Contract: Sources In BCCI Rubish Inaccurate And Biased Press Leaks
Byju’s had taken Oppo’s spot on the Team India jersey in September 2019, and the contract is currently up for renewal. BCCI officials have been complaining about how recent inaccurate and biased press leaks have harmed their own interests.
Those in the know claim that the information is incorrect since there isn’t yet a contract in place because the sum that was leaked to the media — ₹86.21 crore — is so exact that someone with intimate knowledge of it revealed it hours after the BCCI’s apex council meeting ended.
Top BCCI sources concurred that Byju’s had paid the cricket board all past due amounts due in accordance with the contract in place and also acknowledged that the cricket board is in possession of a bank guarantee from Byju’s that significantly exceeds the “pending amount” as reported in the media.