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Two of the sources said the company will pay the BCCI the outstanding amount in three instalments, starting with an upfront payment of Rs 50 crore.
The edtech company said it hoped to reach an amicable solution with BCCI.
Over the past four years, Byju Raveendran has focused primarily on raising capital and driving global expansion.
The rights issue, through which promoters of Byju's are seeking to infuse funds into the startup, is to close on Wednesday.
The company declared the resolutions passed by the shareholders as invalid.
However, BYJU's did not comment on the development. Raveendran is currently stated to be in Dubai.
The company was one of India's hottest startups, valued at $22 billion in 2022.
Troubles have been mounting for the edtech company, with its auditor resigning, board members cutting ties and the company falling behind in payments to a national pension fund.
Messi, who plays for Paris Saint-Germain and captains the Argentinian football team, has signed an agreement with BYJU’S to promote the cause of equitable education.
As a part of BYJU’S central restructuring plans, the company had given its Thiruvananthapuram staff the option to relocate to Bangalore as certain teams were being consolidated for better efficiency.
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