Part 1 narrated the major events that transpired during the meteoric rise and fall of the Byju’s. To read click here

When individuals stumble, particularly after a period of societal or business success, they often face public scrutiny and are labeled as frauds, scammers, or exploiters. This phenomenon is exemplified in the case of Bayju Raveendran. Reactions on Byju’s journey in part 1 of this blog, underscore this tendency. Interestingly, I came across an Indian superstition or belief that adds another dimension to this narrative. Therefore, this supplementary section explores Byju’s saga through the lens of superstition.

Curses and superstitions are deeply rooted in Indian cultural storytelling, ranging from the fear of inauspicious days or times to common cautions about superstitions like a cat crossing your path. However, there’s a compelling story surrounding the fate of sponsors of the Indian cricket team.

The mysterious curse looming over the promoters of the Indian cricket team

Let’s explore the fate of various sponsors of the Indian cricket team:

WILLS: When the Indian government banned tobacco advertisements, Wills had to end its association with BCCI. Although the sponsoring company, ITC, continues to thrive, the brand ‘Wills’ has faded from public view.

SAHARA: Subrata Roy built a vast business empire, Sahara, spanning retail, real estate, and financial services. However, Roy faced controversies and legal battles, leading to the downfall of Sahara in 2013 and ending its partnership with BCCI. STAR: Disney’s acquisition of Star India in the same year it bought out Fox Star altered the situation. Consequently, Star India lost the right to broadcast the Indian Premier League (IPL) independently, which impacted its finances and its sponsorship of the Indian cricket team.

OPPO: Amid escalating tensions between India and China, the Indian government imposed restrictions on Chinese companies like Oppo. Oppo’s prominence waned, leading it to withdraw from sports sponsorships.

BYJU’S: Byju’s held the largest sponsorship contract, paying Rs 5 Cr per match to BCCI. However, burdened by financial woes, Byju’s defaulted on payments totaling Rs 156 Cr, leading to the premature termination of its contract in early 2023. On 15 July 2024, NCLT admitted an insolvency petition by BCCI. That means insolvency proceedings on Byju’s will start immediately.

Dream11: The online gaming app took over sponsorship in June 2023. However, the Indian government’s imposition of a hefty 28% Goods and Services Tax (GST) on fantasy sports platforms poses a financial challenge. This levy could potentially affect Dream11’s ability to fulfill its sponsorship commitment to the Indian cricket team in the long term.

Can we attribute the downfall of Byju’s to the superstition theory?

Entertaining the notion of this curse is akin to agreeing with a batsman who blames the captain for sending him in when the bowler is on a hat-trick.

To read Part 1, Chronicle of Rise and Fall of Byju’s click here

To read Part 3, Apple and Google lesson for Byju’s click here