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BYJUS BOARD RESTRUCTURING
Byju’s crisis timeline: From edtech giant to fighting legal battlesByju’s, the once celebrated edtech giant, has found itself embroiled in a prolonged legal and financial crisis. Delayed audits, funding sho...- “I am not a flower; I am the fire”: Byju Raveendran replies Pushpa Raj style after filing FIR against resolution professional, EY partnersByju Raveendran has filed a First Information Report. The FIR names Pankaj Srivastava, Glas Trust, and some EY employees. Raveendran allege...
- Byju’s lenders petition to put subsidiaries in bankruptcy in the USCreditors led by HPS Investment Partners filed involuntary Chapter 11 cases in Delaware against Neuron Fuel Inc., Epic! Creations Inc. and ...
- Read the full text of Byju Raveendran's letter to shareholders on rights issue, board restructuringByju Raveendran informs shareholders that the $200 million rights issue is fully subscribed, emphasizes the importance of all shareholders ...
- Rights issue of $200 million fully subscribed, will restructure board: Byju RaveendranCEO Byju Raveendran said he is taking steps to ensure transparency on the usage of the funds. He also reiterated in his note that a few ves...
- Byju’s asset sale hangs fire amid investor flare-upsUnlike Epic — which is also on the block — the sale of Great Learning is being overseen directly by its founder Mohan Lakhamraju, along wit...
- US-based Code.org sues Byju’s subsidiary WhiteHat Jr for contract breachCode.org is an education-related nonprofit organisation that provides K-12 computer science curriculum in school districts in the US. White...
- Byju’s may have to dip into Epic sale funds to keep lights onTroubled edtech reduces notice period to 15-30 days across staff level to cut costs
- Byju’s reducing real estate footprint, vacates two offices in BengaluruThe terminated office assets include 550,000 sq ft in Kalyani Tech Park in Whitefield and 70,000 sq ft in IBC Knowledge Park, people aware ...
- Byju's faces legal battle with BCCI over sponsorship terminationThe complaint has been registered to the Bengaluru bench of the National Company Law Tribunal (NCLT). To further decide on the case, judges...
- Byju's files much-delayed FY22 financials, core biz revenue at Rs 3,569 crore, losses at Rs 2,253 croreThe earnings before interest, taxes, depreciation, and amortisation-based loss of the core business was down from Rs 2,406 crore to Rs 2,25...
- Byju's CFO Ajay Goel quits in seven months, Nitin Golani to take chargeGoel to go back to Vedanta; help with big restructuring at the mining group.
- Chaudhry may return as Aakash CEO, nears stock-swap deal with Byju’sChaudhry served as the CEO till November 2020 as part of the founding family that ran Aakash Institute independently.
- Manipal group's Ranjan Pai likely to invest $250-300 million in Byju's subsidiary Aakash InstituteThe initial $170 million tranche will pay off Davidson Kempner debt; the Manipal chairman may rope in more PEs.
- Byju’s creditors onboard Kroll to ‘safeguard’ assets including Great LearningThe appointment was made on behalf of the secured creditors of Byju’s Alpha, as part of the lenders’ exercise of their security rights foll...
- WhiteHat Jr CEO Ananya Tripathi leaves in another top-level exit at Byju’sTripathi was one of at least five business vertical heads who reported to Mrinal Mohit, Byju’s India business head. Four of them, including...
- Byju’s lenders accused of using bogus loan-default claimsThe distressed-debt lenders are “playing hardball” to create leverage in negotiations to restructure the loan and causing problems for Byju...
- Government orders inspection of Byju's account booksIndia's Ministry of Corporate Affairs has ordered an inspection into the account books of embattled edtech startup Byju's, Bloomberg report...
- Consortium of Byju’s lenders extends pact to deal with edtech jointly: reportAn earlier pact signed by the lenders’ consortium, which requires them to act in concert in negotiations with the edtech, is set to expire ...
- Byju’s weighs IPO of its test prep subsidiary Aakash by mid-2024The announcement on the IPO for Aakash, which Byju’s acquired in 2021 for $950 million, has come amid the company reportedly facing a $40 m...
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