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Byju’s, once India’s biggest startup, is close to settling a $19 million payment dispute with the Indian cricket board, potentially saving the company from insolvency proceedings that have frozen its assets. This settlement comes after the cricket board initiated insolvency proceedings due to Byju’s failure to pay sponsorship fees.

The company, valued at $22 billion in 2022, has faced numerous setbacks in recent years, including layoffs, a decline in valuation, and accusations of corporate governance lapses. While Byju’s denies any wrongdoing, it is reportedly nearing a settlement with the cricket board, which would involve paying the outstanding amount in three installments, starting with a $6 million upfront payment.

The terms of the settlement are still under negotiation, but if finalized, it could significantly help Byju’s recover from its recent struggles.

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