Troubled edtech firm Byju’s founder, Byju Raveendran, said in an email to his employees that their salaries will be paid promptly as soon as he regains control of the company’s accounts, even if it requires taking on more debt. “When we regain control, your salaries will be paid promptly, even if that means raising more …
Karnataka High Court, Byju’s The Board of Control for Cricket in India (BCCI) on Friday told the Karnataka High Court that co-founder of edtech firm Byju’s, Byju Raveendran, had been “continuously misleading” the Court on the issue of its insolvency proceedings. Solicitor General Tushar Mehta, who appeared for BCCI, told Justice SR Krishna Kumar that …
Qatar Investment Authority (QIA), one of the largest external investors in India, also asked the Karnataka High Court to prevent Raveendran from selling, pledging or transferring his assets. In a court filing seen by Mint, the investor sought to claim Raveendran’s personal assets up to $235.19 million. Apart from investing in the company in 2019 …
Karnataka High Court, Byju’s A Division Bench of the Karnataka High Court on Friday directed Byju’s to maintain status quo while the National Company Law Tribunal (NCLT) at Bengaluru reconsiders the question of whether the ed-tech firm should be restrained from proceeding with a second rights issue. The rights issue had been objected to by …
Unacademy Chief Executive Officer Gaurav Munjal on Friday shared his take on the downfall of ed-tech firm Byju’s and its founder Byju Raveendran, highlighting the importance of ‘blunt feedback’ in running a business. In a post on X, formerly Twitter, Munjal said the troubled ed-tech startup’s founder stopped listening and failed to have people who …
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 NDTV Profit that except for IBC Knowledge Park in Bengaluru – where over 1,000 …
Edtech company Byju’s, currently grappling with an intense financial crisis, said on Sunday they were unable to pay the salaries of their employees due to the investors of their company blocking the funding. However, a web of financial mismanagement and court proceedings traced a hefty sum of $533 million to Byju’s, tied up in an …
Image Credits: Dhiraj Singh / Bloomberg / Getty Images Camshaft disclosed in court filings this week that some $533 million it managed for Byju’s Alpha, a U.S. unit of Indian edtech group Byju’s, was transferred to another 100% and U.S.-based subsidiary of Byju’s, thereby refuting allegations that the Indian firm used the wealth manager’s services …
Byju Raveendram claimed that the funds had been locked away. Amidst the ongoing financial crisis in Byju’s, company CEO Byju Raveendran on Saturday said that the edtech firm will not be able to pay the salaries of its employees. Mr Raveendran informed the news to his staffers in an email, wherein he also lashed out …
One day following the shareholders’ decision to oust Byju Raveendran, the CEO and founder of the ed-tech firm Byju’s, Raveendran asserted in a letter to employees that ‘rumours’ of his dismissal from Byju’s are inaccurate. In a message to employees, the 44-year-old entrepreneur characterised Friday’s extraordinary general meeting (EGM) of shareholders as a “farce” and …