Tag: Byju’s insolvency

Byju’s suspended RP, former promoters move appellate tribunal NCLAT

February 6, 2025 admin

Now matter has been referred to the Chairperson of the appellate tribunal, who will assign this matter to a new bench. File | Photo Credit: Reuters Former Resolution Professional of insolvency-bound edtech firm Byju’s has moved appellate tribunal NCLAT challenging disciplinary action recommended against him by the Bengaluru bench of NCLT. Besides, former promoters of…

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NCLT directs disciplinary proceedings against Byjus’ resolution professional

January 29, 2025 admin

Image used for representative purpose only. | Photo Credit: Reuters The National Company Law Tribunal on Wednesday (January 29, 2025) ordered a disciplinary proceeding against Byjus’ resolution professional and nixed his direction to exclude Glas Trust and Aditya Birla Finance from the edtech’s Committee of Creditors. Passing an order, the Bengaluru bench of the National…

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Byju’s Still Obligated To Repay Full Loan Amount, Say US Lenders

September 15, 2024 admin

BYJU’S has countered the allegation levelled by the lenders. (Representational) New Delhi: 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, and have said that the beleaguered edtech firm will have to pay the entire USD 1.2 billion Term…

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SC rejects pleas of BCCI, Byju’s to defer Committee of Creditors from meeting

August 22, 2024 admin

The Court had issued notice to Byju Raveendran, his company Think and Learn Private Limited and the BCCI. | Photo Credit: ANI The Supreme Court on Thursday (August 22, 2024) did not heed repeated requests by debt-ridden ed-tech firm Byju’s and the Board of Control for Cricket in India (BCCI) to defer the Committee of…

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Byju’s insolvency proceedings revived by the SC; setback for founder Raveendran and U.S. lenders

August 14, 2024 admin

Representational image of the Byju’s logo | Photo Credit: Reuters The Supreme Court on Wednesday (August 14, 2024) revived insolvency proceedings against Byju’s by putting a previous tribunal order on hold, in a victory for U.S. lenders that say they are owed $1 billion by the education technology company. The Supreme Court order is a…

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Law Tribunal Judge Recuses From Hearing Byjus Plea Against Insolvency Proceedings

July 29, 2024 admin

Byju Raveendran had moved the NCLAT against the insolvency proceeding order. (Representational) Chennai: A judicial member of the National Company Law Appellate Tribunal (NCLAT), Chennai, on Monday recused himself from hearing a plea by Byju’s Founder Byju Raveendran against the insolvency petition against his company, Think & Learn Private Ltd. Justice Sharad Kumar Sharma, a…

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How India’s Byju’s went from startup star to facing insolvency

July 16, 2024 admin

The logo of Byju’s, the EdTech startup. | Photo Credit: Reuters Indian edtech company Byju’s is staring at insolvency proceedings on July 16 following a tribunal order, deepening a crisis that has seen the one-time market darling’s valuation plunge from about $22 billion to less than $2 billion. Byju’s, which describes itself as the “world’s…

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NCLT starts insolvency proceedings against Byju’s

July 16, 2024 admin

Byju’s, once one of India’s premier EdTech startups, now faces insolvency proceedings. File | Photo Credit: REUTERS An Indian tribunal on July 16 started insolvency proceedings for EdTech firm Byju’s after the country’s cricket board complained about failure to recover $19 million in dues, dealing another blow to a company that was once India’s biggest…

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