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NCLAT judge recuses from hearing Raveendran's plea against insolvency proceedings of Byju

NCLAT judge recuses from hearing Raveendran's plea against insolvency proceedings of Byju

Mon, Jul 29, 2024

The matter was listed on Monday before a two-member Chennai-based bench of the NCLAT comprising Justice Sharad Kumar Sharma, Member (Judicial), and Jatindranath Swain, Member (Technical).

NCLT accepts BCCI insolvency plea against Byju's, ed-tech firm to challenge decision

NCLT accepts BCCI insolvency plea against Byju's, ed-tech firm to challenge decision

Tue, Jul 16, 2024

According to sources close to the development, the company is planning to challenge the NCLT order in the National Company Law Appellate Tribunal (NCLAT).

Byju Raveendran failed because he didn't listen to anyone: Unacademy CEO

Byju Raveendran failed because he didn't listen to anyone: Unacademy CEO

Fri, Jun 28, 2024

"Byju failed because he didn't listen to anyone. He put himself on a pedestal and stopped listening. Don't do that. Never do that. Don't listen to everyone but have people who can give you blunt feedback," Munjal said in a series of posts shared on X.

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BYJU'S processes employees' May salaries from business collections

BYJU'S processes employees' May salaries from business collections

Mon, Jun 03, 2024

The company in the past month also raised various debts to bear the salary expenses as it has not been able to use the USD 200 million fund raised through rights in February.

Rajnish Kumar and Mohandas Pai to discontinue as Byju's advisors

Rajnish Kumar and Mohandas Pai to discontinue as Byju's advisors

Mon, May 20, 2024

Think & Learn formed the advisory council in July 2023 to mentor and advise the edtech firm to come out of the crisis and improve governance.

Byju Raveendran tells staff not to sell courses but counsel parents; cuts course prices

Byju Raveendran tells staff not to sell courses but counsel parents; cuts course prices

Thu, May 09, 2024

“If you can get results by spending just half an hour a day, please do that. Want to only work on the weekends? Why not?” Raveendran told them in the meeting.

Byju Raveendran raised debt to pay March salaries

Byju Raveendran raised debt to pay March salaries

Mon, Apr 22, 2024

Byju's salary expenses for partial payouts is estimated to be in the range of Rs 25-30 crore.

Byju's starts paying March salary to employees; blames miffed investors' action for delay

Byju's starts paying March salary to employees; blames miffed investors' action for delay

Tue, Apr 09, 2024

The company raised USD 200 million through rights issue to meet its operational requirements, including expenses related to employees' salaries.

From Billionaire to Zero: Byju Raveendran's Net Worth Freefalls To Ashes

From Billionaire to Zero: Byju Raveendran's Net Worth Freefalls To Ashes

Thu, Apr 04, 2024

Byju Raveendran, once a billionaire, now sees his net worth drop to zero, as per the Forbes Billionaire Index 2024. The edtech giant, Byju's, faces turmoil amid a bitter dispute with dissenting investors over a contentious rights issue worth $200 million.

Byju's laying off 500 employees; sales, tuition centres to be impacted: Report

Byju's laying off 500 employees; sales, tuition centres to be impacted: Report

Wed, Apr 03, 2024

The layoff in the embattled edtech company began 15-20 days ago, sources said, adding that it would impact 500 employees.

Byju reaches out to miffed investors to participate in rights issue: Report

Byju reaches out to miffed investors to participate in rights issue: Report

Sat, Mar 30, 2024

Edtech major Think and Learn, which owns Byju's brand, has reached out to miffed investors to set aside differences and participate in the company's fundraising process to prevent dilution of their present shareholding, according to a report.

Byju’s Crisis: From WFH To Partial Salaries – Byju’s New Plan To Deal With Cash Crunch

Byju’s Crisis: From WFH To Partial Salaries – Byju’s New Plan To Deal With Cash Crunch

Tue, Mar 12, 2024

Edtech giant Byju's has directed its employees to work remotely as it closes office spaces nationwide, except for its Bengaluru headquarters and 300 offline tuition centres. CEO Arjun Mohan's restructuring plan aims to conserve cash amid a deadlock with investors over a $250-$300 million rights issue.

BYJU'S rights issue gets $300 million commitment

BYJU'S rights issue gets $300 million commitment

Mon, Feb 19, 2024

BYJU'S rights issue: Edtech major Think and Learn, which operates under BYJU'S brand name, is learnt to have received a commitment of USD 300 million from investors for its ongoing rights issue which will close by the end of February.

Byju's revenue reaches Rs 5,298 crore in FY22, losses surge to Rs 8,370 crore

Byju's revenue reaches Rs 5,298 crore in FY22, losses surge to Rs 8,370 crore

Tue, Jan 23, 2024

The company's total revenue was nearly Rs 5,298.4 crore in FY22 from Rs 2,428.3 crore in FY21, up almost 119 per cent in FY22, while losses increased a massive 80 per cent from the year-ago fiscal year.

Byju's to cut 4,000-5,000 jobs in business restructuring exercise

Byju's to cut 4,000-5,000 jobs in business restructuring exercise

Wed, Sep 27, 2023

Byju's layoff: The edtech major last week elevated Mohan as the CEO of its India operations as it mulls to sell some of its subsidiaries to repay its outstanding $1.2 billion Term Loan B (TLB) amid "difficult business restructuring".

A look at this week's startup deals: Byju's, Atlys, EaseMyAI, NoBroker, Flash, insideFPV, Bluwheelz in news

A look at this week's startup deals: Byju's, Atlys, EaseMyAI, NoBroker, Flash, insideFPV, Bluwheelz in news

Sat, Sep 23, 2023

Startups like Deltafour, Flash, insideFPV, EaseMyAI and Atlys have all raised funds while proptech unicorn NoBroker's app NoBrokerHood was onboarded on to the ONDC.

A look at this week's startup deals: Zepto, NoBroker, WeWork, Byju's were in news

A look at this week's startup deals: Zepto, NoBroker, WeWork, Byju's were in news

Fri, Aug 25, 2023

Startups like 13SQFT.Com, Zepto and SuperBottoms raised funding this week while NoBroker announced to target Rs 1,000 crore revenue in 2023-24 and Meesho to grow merchant base 10 times to 1.1 crore by 2027.

A look at this week's startup deals: Aretto, Swiggy, Oyo, DynamoFL, eBikeGo were in news

A look at this week's startup deals: Aretto, Swiggy, Oyo, DynamoFL, eBikeGo were in news

Fri, Aug 18, 2023

Startups like Aretto and DynamoFL raised funding this week while OYO said it will will facilitate on-the-job training across its vacation home business in countries such as Denmark, and eBikeGo plans to launch its Muvi brand of e-scooters.

Byju's governance structure did not evolve sufficiently, regularly disregarded advice: Prosus

Byju's governance structure did not evolve sufficiently, regularly disregarded advice: Prosus

Tue, Jul 25, 2023

Prosus, which this year slashed its valuation of Byju's to USD 5.1 billion from USD 22 billion last year, said the decision for its director to step down from Byju's board last month was mainly because he was "unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders.

Byju's, lenders agree to complete term loan amendment by August 3

Byju's, lenders agree to complete term loan amendment by August 3

Mon, Jul 24, 2023

"We are pleased to make progress with BYJU'S toward a completed loan amendment. This announcement is consistent with our stated goal of working constructively with BYJU'S management to protect the value of the franchise," the steering committee of ad hoc term loan lenders said.

Edtech firm Byju's vacates largest office space in Bengaluru

Edtech firm Byju's vacates largest office space in Bengaluru

Mon, Jul 24, 2023

As per the report, Byju's, which had three office spaces in Bengaluru, including the 5.58 lakh square foot property in Kalyani Tech Park, has now vacated this particular location and asked employees to either work remotely or from its Prestige Tech Park building or its main office at the Baneghatta Main Road.

Byju's appoints ex-upGrad chief Arjun Mohan as CEO for international business

Byju's appoints ex-upGrad chief Arjun Mohan as CEO for international business

Thu, Jul 13, 2023

Byju's new CEO: Edtech company Byju's has appointed upGrad's former top boss Arjun Mohan as its CEO for international business, according to sources. Byju Raveendran will remain as group CEO and Mrinal Mohit will continue to head the India business, the sources confirmed to PTI.

A look at this week's startup deals: Zerodha, BigBasket, BYJU's, mPokket were in news

A look at this week's startup deals: Zerodha, BigBasket, BYJU's, mPokket were in news

Fri, Jun 30, 2023

Online grocery delivery firm BigBasket posted its loss, mPokket updated its target to disburse Rs 8,000 crore, and Reloy raised Rs 7.2 crore from investors to expand its business.

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