Founder of collapsed edtech giant Byju's sentenced to jail as Singapore court finds Raveendran repeatedly disobeyed multiple orders, as per reports
Changes in strategy, new funding, and renewed confidence drive educational technology startups in India
Ed-tech firm Byju's needs regular reorganisation so that it is out of the choppy waters
Once heralded as a promising startup, Byju's get no relief with looming BCCI action, pending claims from the Income Tax Department, and a fall from grace
Supreme court bench headed by CJI DY Chandrachud sets aside order by the National Company Law Tribunal that offered Byju's relief in insolvency proceedings filed by BCC
Byju’s is currently facing an insolvency process, and government authorities have submitted these claims to the Insolvency and Bankruptcy Board of India
US-based creditor Glas Trust opposed Rs 158.9 crore settlement with BCCI
A caveat is filed to ensure that no order is passed against them without being heard
It will help the company avoid immediate insolvency proceedings initiated by BCCI
'You are a company that is functioning. Surely, you should be having revenues'
Byju's has cut the prices of its courses by around 30 per cent to garner customers
Arjun Mohan, the former CEO of Byju's India, stepped down from his position
The CEO's position has been vacant after Abhishek Maheshwari left in September 2023
Byju's informed its staff that it has secured an alternate line of credits
His net worth was ₹17,545 crore a year ago
Reports point out that many people have been laid off just over a phone call
Urges employees to to hold onto hope and remain resilient
Six investors jointly hold a 32 per cent stake in the company
The tribunal said the matter will be heard next on April 4
The salaries are expected to reflect in employee accounts by Monday
Calls this a 'heart-wrenching reality'
Wednesday was the deadline for rights issue
'We have won many battles, but we have to win some more'
The notices were allegedly sent to Think & Learn Pvt Ltd and founder Byju Raveendran
Likely to sell US-based Epic for $400 million to Joffre Capital Ltd
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