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New Delhi: India’s education sector, especially offline coaching centres, was once booming. The country played a key role in the global education landscape, with the largest network of higher education institutions in the world. When Covid-19 hit in 2020 and a lockdown was imposed, all classes were forced to go online. Everyone thought this would…
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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 Raveendran has been trying to regain control his capsizing education technology empire, which…
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In the latest statement, the lenders have raised their total claim to $1.5 billion. New Delhi: 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. During a two-and-a-half-hour call with the…
New Delhi: The insolvency appellate tribunal NCLAT did not apply its mind at all while closing the insolvency proceedings against Byju’s, the Supreme Court has said, noting that it has approved the edtech major’s dues settlement worth crores with the BCCI. The National Company Law Appellate Tribunal (NCLAT)’s relief for Byju’s came on August 2…
Read More “Supreme Court Questions Tribunal Order On Byju’s-BCCI Settlement: Without Apply Mind…” »
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…
Read More “Byju’s Still Obligated To Repay Full Loan Amount, Say US Lenders” »
On August 14, the Supreme Court stayed the verdict of NCLAT, setting aside the insolvency proceedings, approving its ₹158.9 crore dues settlement with the Indian cricket board. | Photo Credit: Reuters The Supreme Court on Wednesday (September 11, 2024) said it will hear on September 17 the appeal of U.S.-based creditor Glas Trust Company LLC…
Read More “Byju’s insolvency proceedings case: Supreme Court to hear plea on September 17” »
Byju’s logo is seen in this illustration taken on June 22, 2023. File Photo | Photo Credit: REUTERS Education technology company Byju’s auditor BDO Global has resigned after the startup did not provide documents requested following the start of insolvency proceedings, Byju’s said on Saturday. Byju’s is fighting several battles including the insolvency proceedings and…
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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 at the time of admission of BCCI plea by NCLT had said it is hopeful of reaching “an amicable settlement” with the BCCI. File | Photo Credit: Reuters The BCCI on July 30 sought a day’s adjournment at appellate insolvency tribunal NCLAT, saying talks are going on with Byju’s, hinting at the possibility of…
Read More “BCCI hints at settlement talks with Byju’s, NCLAT adjourns matter to July 31” »
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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