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BYJU'S

Byju's knocks at NCLAT door against NCLT's insolvency order; seeks urgent hearing

Byju's knocks at NCLAT door against NCLT's insolvency order; seeks urgent hearing

Thu, Jul 18, 2024

Byju's did not comment on the issue.According to sources, Byju's on Thursday moved the appellate tribunal, NCLAT, contesting the recent order of NCLT's Bengaluru bench that had admitted the cricket board's plea to start insolvency proceedings against the parent company Think and Learn, after the edtech firm failed to pay Rs 158.9 crore dues.

Global investment firm Prosus puts its investment in Byju's to zero at $493 million loss

Global investment firm Prosus puts its investment in Byju's to zero at $493 million loss

Mon, Jun 24, 2024

Prosus writes off $493 million investment in Byju's amid significant loss of influence and financial challenges.

Can Byju's pay salaries on time, clear employees' pending dues?

Can Byju's pay salaries on time, clear employees' pending dues?

Tue, May 28, 2024

The company is yet to pay the remaining salary dues of February and March to thousands of its employees, amid ongoing legal battles with investors and vendors.

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Byju's vs investors: NCLT defers hearing to June 6

Byju's vs investors: NCLT defers hearing to June 6

Tue, Apr 23, 2024

The allegations made by the counsels of four foreign investors regarding violation of the court order were refuted by Raghavan.

Shareholders approved rights issue to tackle cash crunch: Byju's

Shareholders approved rights issue to tackle cash crunch: Byju's

Mon, Apr 15, 2024

Earlier in the day, the company announced that Arjun Mohan, who was elevated as the embattled edtech firm's CEO some seven months back, has moved on to pursue other opportunities. Raveendran will now take a more hands-on approach in spearheading the daily operations of the company.

Investor funding in edtech drives behaviour which is not good for industry: Byju's Aakash CEO Deepak Mehrotra

Investor funding in edtech drives behaviour which is not good for industry: Byju's Aakash CEO Deepak Mehrotra

Tue, Apr 09, 2024

Mehrotra said digital alone is not enough to address the requirement of students preparing for high stake examinations.

Byju's News: Arbitrator asks edtech firm to not sell 6% stake in Aakash

Byju's News: Arbitrator asks edtech firm to not sell 6% stake in Aakash

Fri, Apr 05, 2024

Arbitration proceedings were initiated by the MEMG Family Office in March to protect its rights, as per the undertaking given by Byju's at the time of securing the loan.

Byju's delays March salary as funds remain stuck, hopes to pay by April 8

Byju's delays March salary as funds remain stuck, hopes to pay by April 8

Mon, Apr 01, 2024

The edtech company has mandated all its employees to work from home as it gives up office spaces across the country amid a severe cash crunch, barring those working at its offline tuition centres.

Byju's says 262 tuition centres operational, a few to undergo 'strategic restructuring'

Byju's says 262 tuition centres operational, a few to undergo 'strategic restructuring'

Fri, Mar 22, 2024

Embattled edtech company Byju's on Friday said that its tuition centres have entered the third successful year with 262 offline locations currently operational across the country.

Found gross negligence by Byju's auditors: ICAI president

Found gross negligence by Byju's auditors: ICAI president

Wed, Mar 13, 2024

For long the international auditing major Deloitte was the statutory auditors of Byju's. However, as the financial trouble mounted at the edutech major, it in June 2023 resigned midway, citing a long delay in preparation of the financial statement of the company for FY22.

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 tells employees to WFH as it gives up office spaces amid cash crunch

Byju's tells employees to WFH as it gives up office spaces amid cash crunch

Mon, Mar 11, 2024

The move to give up offices is part of Byju's India CEO Arjun Mohan's restructuring exercise to save cash as proceeds from the rights issue (around $250-$300 million) remain stuck amid its tussle with select investors.

Byju's saga: Financial discipline biggest lesson for startups, says Simplilearn Co-founder

Byju's saga: Financial discipline biggest lesson for startups, says Simplilearn Co-founder

Mon, Mar 04, 2024

According to industry leaders, recent governance issues with well-funded and "poster boys" of startups have added to the ongoing bearish trend for the ecosystem amid the funding winter.

Salaries delayed for Byju's 20,000 employees, CEO blames investors

Salaries delayed for Byju's 20,000 employees, CEO blames investors

Sat, Mar 02, 2024

The Bengaluru bench of National Company Law Tribunal (NCLT) has directed Byju's that the proceeds from the rights issue is to be kept in a separate account till the disposal of the case with investors.

Byju's shareholders vote to remove CEO, family; company calls vote invalid

Byju's shareholders vote to remove CEO, family; company calls vote invalid

Fri, Feb 23, 2024

The High Court on Wednesday had refused to stay the EGM, called by shareholders collectively holding more than 32 per cent stake in Think & Learn (T&L) - the firm that operates Byju's, but any resolution passed shall not be given effect till the next date of hearing.

Byju's investors file oppression, mismanagement suit against co-founder Raveendran, others

Byju's investors file oppression, mismanagement suit against co-founder Raveendran, others

Fri, Feb 23, 2024

The plea also wants a forensic audit and a direction to the management to share information with the investors.

How Byju's Raveendran, once a startup poster boy, landed on ED's lookout notice list

How Byju's Raveendran, once a startup poster boy, landed on ED's lookout notice list

Thu, Feb 22, 2024

The once sought-after hero of the Indian startup landscape is now on the Enforcement Directorate's (ED) search list, after the investigation agency on Thursday asked the Bureau of Immigration to issue a look-out circular (LOC) against Byju's founder, Byju Raveendran. The LOC forces Raveendran not to move out of India. The order is against an entrepreneur who once led the most valued startup in India and had Shah Rukh Khan and Lionel Messi as its brand ambassadors. Read the story of the entrepreneur who made a unicorn startup from scratch and fell from grace after scaling greater heights.

Karnataka High Court refuses to stay BYJU'S EGM on February 23

Karnataka High Court refuses to stay BYJU'S EGM on February 23

Wed, Feb 21, 2024

BYJU'S had approached the Karnataka High Court seeking a stay on the EGM but the court only gave an interim relief that any resolution passed at the EGM on Friday cannot be implemented before the next court hearing.

Byju's aims to raise $200 million via rights issue at drastic valuation cut

Byju's aims to raise $200 million via rights issue at drastic valuation cut

Mon, Jan 29, 2024

Meanwhile, overseas lenders of Byju's $1.2 billion term loans last week said they have filed a petition before the Bengaluru Bench of the National Company Law Tribunal (NCLT) to initiate corporate insolvency resolution proceedings against Think & Learn Pvt Ltd.

Byju's to hold board meeting on December 20 amid pending dues

Byju's to hold board meeting on December 20 amid pending dues

Tue, Dec 05, 2023

Byju's founder and CEO, Byju Raveendran, has reportedly convened an urgent meeting with senior management to address the challenging liquidity situation. The company is currently grappling with difficulties in meeting its financial obligations, including employee salaries.

BCCI takes edtech firm Byju's to NCLT over sponsorship dues

BCCI takes edtech firm Byju's to NCLT over sponsorship dues

Wed, Nov 29, 2023

A report published in 'The Morning Context' stated, the case, filed in September and registered earlier this month, is related to a dispute around the sponsorship of the Indian cricket team's jerseys.

BYJU'S appoints Jiny Thattil as Chief Technology Officer

BYJU'S appoints Jiny Thattil as Chief Technology Officer

Mon, Nov 27, 2023

Edtech firm BYJU'S on Monday said it has appointed senior vice president for engineering Jiny Thattil as its Chief Technology Officer.

EXCLUSIVE | Enforcement Directorate issues over Rs 9,000-crore show cause notice to Byju's

EXCLUSIVE | Enforcement Directorate issues over Rs 9,000-crore show cause notice to Byju's

Tue, Nov 21, 2023

Byju's violated FEMA norms by not submitting documents of imports against advance remittances made outside India, and failing to realize proceeds of exports, the ED said.

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