Tag: Byju's

Probe Finds No Financial Fraud At Byju’s But Cites Lapses In Corporate Governance

June 26, 2024 admin

Representational Image New Delhi: Embattled edtech firm Byju’s did not siphon off funds or manipulated accounts, a year-long investigation by the government has found. However, the company did go through lapses in its corporate governance structure, the government added. The probe by the Ministry of Corporate Affairs (MCA) concluded allegations regarding the manipulation of accounts…

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Byju’s Manager Riju Ravindran Not Truthful on Missing $533 Million, Says US Judge

May 22, 2024 admin

Riju Ravindran failed to make a serious effort to find out what happened to the cash. A director of Indian tech firm Think & Learn Pvt faces financial penalties for defying a US judge’s order to find out where the troubled company stashed $533 million that jilted lenders say should go to them. Riju Ravindran,…

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Byju’s announces rejig of business; founder Raveendran to take over firm’s daily operations

April 15, 2024 admin

A Byju’s logo is seen in this illustration taken, June 22, 2023. | Photo Credit: Reuters Byju Raveendran, the founder of the edtech company Think and Learn, which owns the Byju’s brand, will handle the firm’s day-to-day operations following the resignation of CEO Arjun Mohan, the company said on April 15. The company has also…

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

April 9, 2024 admin

Photo used for representation purpose only. | Photo Credit: Reuters Edtech firm Think and Learn, owner of Byju’s brand, has started paying March salaries to its employees after a delay of nine days and the payout process is expected to complete in next 10 days, according to sources. The company in a communication to employees…

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Byju’s To Lay Off 500 Employees Amid Financial Crunch: Report

April 2, 2024 admin

Byju’s rose to dizzying heights before facing a slew of challenges. (Representational) New Delhi: Byju’s is laying off about 500 employees, including from sales, amid a financial crunch, sources said, even as the troubled edtech firm maintained that it is in the final stages of business restructuring to streamline operations. The layoff in the embattled…

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Byju’s Delays Salaries Again, Blames “Few Misguided Foreign Investors”

April 1, 2024 admin

Byju’s also sought to assure staff that it is following a parallel line of credit. (Representational) New Delhi: Embattled edtech company Byju’s has informed its employees that there will “again” be a delay in disbursement of salaries. Byju’s management in a communication to employees blamed the situation on an interim order obtained by “a few…

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Byju’s Shuts All Offices Except HQ, Asks 14,000 Employees To WFH: Report

March 12, 2024 admin

Byju’s has asked about its14,000 employees to work from home (File) New Delhi: Edtech firm Byju’s has asked its14,000 employees to work from home as it vacated all its offices except the headquarters in Bengaluru amid the ongoing crisis. Sources told the NDTV Profit that except for IBC Knowledge Park in Bengaluru – where over…

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Mystery Of Byju’s ‘Hidden’ $533 Million Stuck In Offshore Trust

March 3, 2024 admin

Byju’s has witnessed a staggering decline of approximately 90 per cent in the past year. New Delhi: Edtech firm Byju’s parent company, Think & Learn Pvt, has found itself embroiled in a complex web of financial mismanagement, offshore dealings, and legal disputes. At the centre of it is $533 million, a Florida hedge fund, a…

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Byju’s Contests Shareholders’ Move To Oust Byju Raveendran As CEO

February 24, 2024 admin

Byju’s said the resolutions taken at the meeting were “null and void” (File) New Delhi: Crisis-hit edtech star Byju’s has contested Friday’s decision of its shareholders to oust its founder as the chief executive officer. The company said the resolutions taken at the shareholders’ meeting were “invalid” since its founders were not present. “The resolutions…

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BYJU’S $200 million rights issue fully subscribed: CEO Byju Raveendran

February 21, 2024 admin

A file photo of Byju’s logo | Photo Credit: Reuters Edtech major BYJU’S top official said the company’s $200 million rights issue has been fully subscribed and asked all shareholders to participate in the “renewed mission”. Think and Learn Private Limited, which operates under BYJU’S brand name, has floated $200 million rights issue at less…

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