# In the matter of Think & Learn Private Limited

> NCLT judgment dated 2024-07-16. Citation: TCN-2024-NCLT-01001. The Board of Control for Cricket in India (BCCI), as the Operational Creditor/Petitioner, filed…

- **Court:** NCLT
- **Order date:** 16 Jul 2024
- **Citation:** TCN-2024-NCLT-01001
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/think-learn-private-limited-58db7d43

## Summary

### Background

The Board of Control for Cricket in India (BCCI), as the Operational Creditor/Petitioner, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Think & Learn Private Limited (Corporate Debtor/Respondent). The claim pertains to a default of Rs. 1,58,90,92,400/- arising from a 'Team Sponsor Agreement' dated 25/07/2019, where BCCI granted sponsorship rights to Think & Learn for the Indian cricket teams. The agreement initially ran until 31/03/2022 but continued informally until 31/03/2023. Despite making some payments, a significant amount remained unpaid, leading to the demand notice and subsequent CIRP application.

## Facts

The Board of Control for Cricket in India (BCCI) and Think & Learn Private Limited (BYJU'S) entered into a 'Team Sponsor Agreement' on 2019-07-25, granting BYJU'S sponsorship rights for the Indian cricket teams. The agreement was initially valid until 2022-03-31 but was informally extended until 2023-03-31. As per the agreement, BCCI provided BYJU'S with marketing and advertising services, including the right to display trademarks on team kits and use video footage. BYJU'S was obligated to pay a fee for these services. After 2022-03-31, BYJU'S made a payment of Rs 25,35,50,000/- for the India-South Africa series. However, payments for other invoices remained outstanding. BYJU'S requested extensions for payment via emails, acknowledging the debt. BCCI encashed a

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## Issues and analysis

### Issue 1: Whether the Petitioner herein …

**Ratio:** Section 5(21) of the IBC defines 'Operational Debt' as a claim in respect of the

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**Reasoning:** The court reasoned that the 'Team Sponsor Agreement' granted advertising and promotional

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**Interpretation:** The interpretation of 'Operational Debt' under Section 5(21) of the IBC

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**Application:** The court applied the definition of 'Operational Debt' to the facts, finding

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## Parties

- **Judges:** K. Bi…; Manoj Kumar…
- **Appellants:** The Board of…
- **Respondents:** Think and Learn…

## Timeline

- **2019-07-25 — Team Sponsor A…**: BCCI and Think & Learn (BYJU'S) enter…
- **2022-03-31 — Initial Agreement Term…**: The initial term of the 'Team Sponsor Agreement' expires, but the agreement continues…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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