Byju

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 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.

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.

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.

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.

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.

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.

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 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.

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.

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.

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 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.

Insolvency proceedings against Byju's were quashed by an appeals tribunal on Friday in a big win for founder Byju Raveendran but a setback for US lenders that say they are owed $1 billion by the education start-up.

Embattled ed-tech startup Byju's and the Board of Control for Cricket in India (BCCI) have arrived at a settlement, a lawyer said on Wednesday.

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 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.

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.

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.

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.

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.

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.

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 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.

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.

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.

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 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.

Insolvency proceedings against Byju's were quashed by an appeals tribunal on Friday in a big win for founder Byju Raveendran but a setback for US lenders that say they are owed $1 billion by the education start-up.

Embattled ed-tech startup Byju's and the Board of Control for Cricket in India (BCCI) have arrived at a settlement, a lawyer said on Wednesday.