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Byju's Founder Accused Of Trying To Regain Firm With Hidden Cash
The founder of bankrupt Indian tech firm Byju's tried to use loan proceeds that he allegedly hid from US lenders to secretly buy back a software company that was taken over by an American trustee, according to a new court filing.
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Byju's US Units Wrongly Stripped Of Education App, Court Rules
Two money-making education apps that are part of the troubled Byju's software empire were wrongly transferred away from US lenders and must be returned to a court-supervised bankruptcy trustee, a federal judge ruled Tuesday.
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Top Court Reverses Tribunal Order On Byju's- BCCI Rs 158 Crore Settlement
The Supreme Court on Wednesday set aside National Company Law Appellate Tribunal's verdict that had stopped insolvency proceedings against embattled ed-tech firm Byju's.
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"Byju's Worth Zero," Says Founder Of India's Once Biggest Startup
Byju Raveendran, the founder of what was once India's biggest start-up, Byju's, said he overestimated the growth potential of his education-technology company which is now "worth zero" as it faces insolvency, but remains hopeful of rescuing it.
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"Ready To Pay Back Lenders Before Taking A Single Rupee Out": Byju's Founder
Byju Raveendran, the founder of troubled edtech firm Byju's, on Thursday said that he is willing to pay back all the money owed to lenders if they are willing to work with him.
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'You Have Rs 15,000 Crore Due Why Only Settle BCCI's': Supreme Court To Byju's
The Supreme Court has questioned whycrisis-hit ed-tech major Byju's chose to settle its dues only with the BCCI despite beingin Rs 15,000 crore debt.
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Byju's Still Obligated To Repay Full Loan Amount, Say US Lenders
US lenders represented by Glas Trust have countered BYJU's founder Byju Raveendran's claim on verified debt on the company being merely around Rs 20 crore.
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Verified Debt Claim On Byju's Is Only Rs 20 Crore, Says Founder
Think & Learn, which owns Byju's may not have to pay any amount for the disputed USD 1.2-billion Term Loan B due the present "behaviour" of Glas Trust -- an agency which is representing US-based lenders -- Founder and CEO Byju Raveendran said.
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Auditor Suggested Backdating Reports, We Didn't Agree: Byju's CEO
Byju's audit firm BDO had suggested backdating of reports, which the company refused, and their resignation is more of optics, a top official of the edtech firm alleged on Saturday.
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Another Byju's Auditor Resigns, Firm Shares "Real Reason" Behind Exit
Grappling with several issues, Byju's has found itself in new controversy as its auditor BDO resigned with immediate effect, highlighting multiple issues with the embattled edtech firm, including significant delays in financial reporting.
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US Lenders Won't Have A Say On Who Runs Byju's Amid Bankruptcy Concerns
US lenders to Byju's were removed from an influential creditors committee by a court-appointed arbitrator in India, a potential boon for the struggling online-education company seeking to avert bankruptcy.
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Byju's Insolvency Threatens Future Of Thousands Of Employees
The insolvency of education technology company Byju's threatens to be the biggest upset in a celebrated startup sector, unleashing a long battle by thousands of panic-stricken employees to recover dues and protect their careers.
-
No July Salaries For Byju's Employees Yet, Founder Explains Why
Embattled edtech company Byju's is yet to pay July salaries to its thousands of employees and its Founder and CEO, Byju Raveendran, on Tuesday addressed workers, promising swift resolution despite facing several legal challenges.
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Another Setback To Byju Raveendran, Supreme Court Revives Insolvency Proceedings
The Supreme Court on Wednesday revived insolvency proceedings against Byju's by putting a previous tribunal order on hold, in a victory for US lenders that say they are owed $1 billion by the education technology company.
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Byju's Says US Court Rejection To Lenders A "Win" For "Turnaround Efforts"
Byju's said on Thursday that a US court has shunned its lenders' attempts to block its settlement with the cricket board, calling it a "win" for its "turnaround efforts" in the country where it was once valued at $22 billion.
-
Byju's Founder Accused Of Trying To Regain Firm With Hidden Cash
The founder of bankrupt Indian tech firm Byju's tried to use loan proceeds that he allegedly hid from US lenders to secretly buy back a software company that was taken over by an American trustee, according to a new court filing.
-
Byju's US Units Wrongly Stripped Of Education App, Court Rules
Two money-making education apps that are part of the troubled Byju's software empire were wrongly transferred away from US lenders and must be returned to a court-supervised bankruptcy trustee, a federal judge ruled Tuesday.
-
Top Court Reverses Tribunal Order On Byju's- BCCI Rs 158 Crore Settlement
The Supreme Court on Wednesday set aside National Company Law Appellate Tribunal's verdict that had stopped insolvency proceedings against embattled ed-tech firm Byju's.
-
"Byju's Worth Zero," Says Founder Of India's Once Biggest Startup
Byju Raveendran, the founder of what was once India's biggest start-up, Byju's, said he overestimated the growth potential of his education-technology company which is now "worth zero" as it faces insolvency, but remains hopeful of rescuing it.
-
"Ready To Pay Back Lenders Before Taking A Single Rupee Out": Byju's Founder
Byju Raveendran, the founder of troubled edtech firm Byju's, on Thursday said that he is willing to pay back all the money owed to lenders if they are willing to work with him.
-
'You Have Rs 15,000 Crore Due Why Only Settle BCCI's': Supreme Court To Byju's
The Supreme Court has questioned whycrisis-hit ed-tech major Byju's chose to settle its dues only with the BCCI despite beingin Rs 15,000 crore debt.
-
Byju's Still Obligated To Repay Full Loan Amount, Say US Lenders
US lenders represented by Glas Trust have countered BYJU's founder Byju Raveendran's claim on verified debt on the company being merely around Rs 20 crore.
-
Verified Debt Claim On Byju's Is Only Rs 20 Crore, Says Founder
Think & Learn, which owns Byju's may not have to pay any amount for the disputed USD 1.2-billion Term Loan B due the present "behaviour" of Glas Trust -- an agency which is representing US-based lenders -- Founder and CEO Byju Raveendran said.
-
Auditor Suggested Backdating Reports, We Didn't Agree: Byju's CEO
Byju's audit firm BDO had suggested backdating of reports, which the company refused, and their resignation is more of optics, a top official of the edtech firm alleged on Saturday.
-
Another Byju's Auditor Resigns, Firm Shares "Real Reason" Behind Exit
Grappling with several issues, Byju's has found itself in new controversy as its auditor BDO resigned with immediate effect, highlighting multiple issues with the embattled edtech firm, including significant delays in financial reporting.
-
US Lenders Won't Have A Say On Who Runs Byju's Amid Bankruptcy Concerns
US lenders to Byju's were removed from an influential creditors committee by a court-appointed arbitrator in India, a potential boon for the struggling online-education company seeking to avert bankruptcy.
-
Byju's Insolvency Threatens Future Of Thousands Of Employees
The insolvency of education technology company Byju's threatens to be the biggest upset in a celebrated startup sector, unleashing a long battle by thousands of panic-stricken employees to recover dues and protect their careers.
-
No July Salaries For Byju's Employees Yet, Founder Explains Why
Embattled edtech company Byju's is yet to pay July salaries to its thousands of employees and its Founder and CEO, Byju Raveendran, on Tuesday addressed workers, promising swift resolution despite facing several legal challenges.
-
Another Setback To Byju Raveendran, Supreme Court Revives Insolvency Proceedings
The Supreme Court on Wednesday revived insolvency proceedings against Byju's by putting a previous tribunal order on hold, in a victory for US lenders that say they are owed $1 billion by the education technology company.
-
Byju's Says US Court Rejection To Lenders A "Win" For "Turnaround Efforts"
Byju's said on Thursday that a US court has shunned its lenders' attempts to block its settlement with the cricket board, calling it a "win" for its "turnaround efforts" in the country where it was once valued at $22 billion.
