Byjus’

The appellate tribunal set aside the insolvency proceedings against Byju's on August 2, 2024 after approving dues settlement with the BCCI, which had entered into a Team Sponsor Agreement with the cricket body in 2019

Byju’s sells Tynker to CodeHS, offloads Epic! at heavy discount amid mounting financial woes

A third US subsidiary, educational gaming firm Osmo, is also up for sale but is yet to find a buyer

Riju Ravindran moves NCLT, alleges GLAS Trust has no authorisation to represent its US-based lenders

GLAS Trust, which is representing Byju's US-based creditor, has the authority to represent merely 17.38 per cent of the voting rights of the consortium of term loan providers, he submitted.

Byju’s app taken off Play Store, services disrupted amid AWS payment issues

Byju’s cloud service suspension affects app functionality, blocks access to paid content, and limits full website availability across platforms

Divya Gokulnath says Byju's lacks funds to hire lawyer in US: 'They say, give us a million dollars or...'

'If we were sitting on $533 million, this would not be the situation, right? We would have been fighting in the courts. We would have thrown money at lawyers,' Byju's co-founder Divya Gokulnath said.

Why did bankrupt Byju’s rope in Shah Rukh Khan and Messi? Founder explains

Once India’s most valued startup, BYJU’S has faced a dramatic fall from its peak valuation of $22 billion in 2022, brought down by mounting debt, regulatory scrutiny, and failed global expansion plans.

Unacademy in 'default alive' state, to cut core biz cash burn to Rs 200 crore in 2025: CEO Gaurav Munjal

With cash burn down, Munjal said that Unacademy is steering clear of acquisition-led growth – calling it a failed strategy in edtech – to focus instead on core business profitability, product innovation, and disciplined execution

NCLAT sets aside BCCI and Riju Raveendran's plea on settlement for Byju's

A two-member Chennai bench of the NCLAT upheld the directions passed by the NCLT

Eruditus posts Rs 3,733 crore revenue in FY24, EBITDA loss narrows by 83%

Eruditus is the largest operational edtech company in India by way of revenue. Its revenue is 1.9-times larger than Noida-based PhysicsWallah (PW), and nearly twice as much as Ronnie Screwvala-led UpGrad.

Byju Raveendran vows to revive beleaguered edtech startup: 'Broke, not broken'

Once a favorite among global investors and valued at $22 billion in 2022, Byju's is now embroiled in a legal dispute with lenders over $1 billion in unpaid debts in both the US and India courts.

NCLT orders status quo on Aakash Institute’s shareholding amid legal battle

Byju’s lenders, including Glas Trust, also objected, stating that Aakash remains a crucial asset for the troubled edtech firm and that any change to its shareholding could affect their interests.

Aakash founder joins NCLT battle against changes to firm's AoA

Founder Jagdish Chand Chaudhary, a minority shareholder in the Byju’s subsidiary, has joined other minority shareholders, including the Glas Trust, to contest changes to the Articles of Association

US Bankruptcy court finds Byju’s, Riju Ravindran, and Camshaft Capital liable for fraud

Judge John T Dorsey of the U.S. Bankruptcy Court for the District of Delaware found that the defendants engaged in a deliberate effort to misappropriate funds meant to repay Byju’s lenders.

Should have been here sooner, but was busy saving everything I built: Byju Raveendran

Raveendran also alleged that he, along with several of his employees, has received a document with “conclusive evidence” of criminal collusion between EY India, US-based lender GLAS Trust, and the interim resolution professional (IRP)

Blackstone-backed Singapore Topco withdraws plea against Aakash AoA changes, boosting Byju’s control

The latest development also paves the way for Byju’s to push through the AoA amendments that were previously blocked by an NCLT stay following minority shareholder's (Singapore Topco) plea.

NCLAT declines stay on CoC reviewing Rs 158 crore BCCI-Byju’s settlement offer

Byju's suspended Director Riju Raveendran had sought to keep his Rs 158 crore settlement with the Board of Control for Cricket in India (BCCI) outside the purview of its Committee of Creditors (CoC), in a bid to evade insolvency

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

The tribunal also canceled the reconstitution of the Committee of Creditors (CoC) of Byju’s, which had been carried out by the Interim Resolution Professional on August 31, 2024. In this reconstitution, Srivastava had excluded Glas Trust and Aditya Birla Finance.

NCLT orders probe against Byju's RP, ousted creditors Glas Trust, Aditya Birla back in CoC

The tribunal has asked the Committee of Creditors, which now includes ousted creditors Glas Trust and Aditya Birla Finance, to take a call on appointing a new RP

The downfall of India's hot startup Byju's is wiping out US debtholders

When debt holders tried to recover over half a billion dollars from Byju’s US accounts, they came up empty after it was whisked out of their reach through a Miami hedge fund, records show.

'Don’t want to go down the Byju's path, want to stay afloat,' Aakash tells NCLAT amid shareholding dispute

The statement came as part of Aakash’s plea challenging the NCLT order, which had halted the company’s attempt to amend the AoA

Byju’s content manager, business partner face US court sanctions

A federal judge is considering imposing millions of dollars in sanctions on Byju’s manager Vinay Ravindra and company ally Rajendran Vellapalath, who founded Dubai-based tech startup Voizzit Technology

Supreme Court slams brakes on Aakash Institute's AoA amendment plan

The Supreme Court’s decision follows a similar ruling by the National Company Law Tribunal (NCLT), which had blocked Aakash from passing any such resolution on November 20, citing potential violations of minority shareholder rights.

Byju’s faces new probe over financial, accounting practices

Registrar of Companies in Hyderabad has been asked to investigate Byju’s books to ascertain if the company misreported financial statements and whether funds were siphoned off, people said, asking not to be identified.

Byju’s founder told ally to flee the US to avoid testifying

Raveendran reiterated a job offer with a $500,000 salary if Hailer would immediately come to Dubai and start working, Hailer told US Bankruptcy Judge John T. Dorsey during the hearing in Wilmington, Delaware.

Byju’s founder accused of trying to regain firm with hidden cash

Raveendran allegedly recruited Hailer, who is a former political consultant, to try to buy out US creditors owed more than $1.2 billion under a loan, according to the filing with the US Bankruptcy Court in Delaware.