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The Latest Breaking News from Byju Raveendran

Byju's lenders seek 30% stake in Aakash Educational Services in settlement, sources say

Byju's operated in more than 21 countries at one point and became ‌popular during ⁠the COVID-19 ⁠pandemic by offering online courses. But its fortunes changed in early 2023 when the high-profile dispute with its U.S.-based lenders began.

The Economic Times

NCLT posts Byjus-Aakash hearing for July 16 as parties seek time for settlement

Aakash Educational Services and Think & Learn's resolution professional requested a delay in NCLT proceedings, citing advanced settlement talks for the Aakash shareholding dispute. The National Company Law Tribunal has adjourned the matter to July 16, expecting a resolution. This development follows reports of ongoing settlement discussions between Manipal Education…

The Economic Times

Byju’s-Aakash settlement talks enter final stretch ahead of NCLT hearing

Settlement talks are underway between Manipal Education and Medical Group and GLAS Trust, representing Byju's US lenders, to resolve the Aakash Educational Services shareholding dispute. This crucial discussion aims to settle the division of Aakash's value, Byju's most significant asset, ahead of a key NCLT hearing.

The Economic Times

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Lenskart block deal; Meesho's kirana push

Lenskart has drawn fresh interest from major institutional investors. This and more in today's ETtech Top 5.

The Economic Times

Byju Raveendran: From EdTech Success Story to Legal Scrutiny in Singapore

Byju Raveendran, founder of the Indian edtech company BYJU'S, has been sentenced to six months in jail by a Singapore court for contempt of court, according to a Bloomberg report. The court found him guilty of disobeying multiple orders related to the handling of his assets, with proceedings linked to…

Whats Hot

Byju gets jail term; SC backs 28% gaming GST

Legal troubles compounded for Byju Raveendran as a Singapore court sentenced him to six months in jail. This and more in today’s ETtech Top 5.

The Economic Times

From $22 billion to zero: Success, not failure, brought Byju down

Byju's, once a $22 billion edtech giant, has collapsed. Founder Byju Raveendran faces jail for contempt. The company's downfall stems from unchecked ambition and excessive spending during a period of abundant capital. Aggressive expansion and a reliance on pandemic-era growth proved unsustainable. Investors now fight over assets and loans as…

The Economic Times

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From billionaire to jail: Why Byju Raveendran is facing prison and how $22B startup with SRK & Messi as ambassadors crashed

Byju's founder Byju Raveendran has been sentenced to six months in jail by a Singapore court for contempt of court. The court cited his disobedience of multiple orders concerning his assets. Raveendran must also pay S$90,000 in costs and provide proof of ownership for Beeaar Investco Pte.

The Economic Times

Byju Raveendran says settlement near after Singapore court contempt order

Byju's founder Byju Raveendran announced a settlement in principle with lenders like GLAS Trust and Qatar Investment Authority, following a Singapore court's contempt ruling. He stated the court proceedings created a misleading impression, as parties were nearing a comprehensive settlement and no wrongdoing was found on his part or other…

The Economic Times

Byju’s founder Raveendran sentenced to six months in jail for contempt of court

Byju Raveendran, founder of the failed Indian tech firm Byju's, has been sentenced to six months in jail by a Singapore court for contempt. The court found he disobeyed multiple orders concerning his assets. This latest setback comes as foreign investors, including Qatar Investment Authority, pursue him globally to recover…

The Economic Times

Byju Raveendran held guilty of contempt by US court, civil sanctions imposed

Byju Raveendran, the co-founder of ed-tech giant BYJU’s, was held guilty of contempt by the Delaware Bankruptcy Court in the US on Monday, July 7. The court also imposed civil sanctions worth USD 10,000 per day on him beginning July 1. Byju had maintained that the Delaware court does not…

Newslaundry

Canadian Mom Loses Over $15K After Trying To Buy 28 Taylor Swift Tickets—What Went Wrong?

A Canadian family lost $15,600 on fake Taylor Swift tickets. A larger scam involving 400+ victims and $300,000 in losses has emerged.

International Business Times UK

Amazon Exec Says 9 Out Of 10 Workers Happy With RTO Policy, Tells Critics To Quit Since 'There Are Other Companies Around'

Amazon's new 5-day in-office policy has sparked widespread backlash from employees. Many argue it's unnecessary and time-consuming.

International Business Times UK

Who Is Byju Raveendran? 44-Year-Old CEO of India's Byju Is Voted 'Worst CEO' By Reddit Community, Here's Why

Byju Raveendran, once India's most valued startup founder, was voted the worst by a Reddit community.

International Business Times UK

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The Hindu

Morning digest | Delhi approaches Moscow for early discharge of Indian ‘army helpers’; SC questions T.N. govt.’s intervention in ED’s sand mining case, and more

From the Supreme Court questioning T.N. govt. in ED’s sand mining case to INDIA bloc alliance talks, here is a select list of stories to start the day on Feb 24, 2024

The Hindu

Majority of Byju's shareholders vote for removing CEO, family members; company calls vote invalid

Byju's shareholders vote to remove founder CEO over mismanagement, sparking legal battle and corporate turmoil.

The Hindu

ED issues fresh look-out notice against Byju Raveendran

ED has renewed the look-out notice for education portal Byju’s founder Byju Raveendran with respect to alleged FEMA violation involving ₹9,362 crore.

Dynamite News

ED issues look out notice against Byju Raveendran

The Directorate of Enforcement (ED) has asked the Bureau of Immigration to issue a look out notice against Byju Raveendran, the founder of the in-crisis edtech company Bjyu's. Read further on Dynamite News:

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Top News

Byju's US Unit Files Bankruptcy in Delaware, Raises Concerns

Byju's US unit, the Indian edtech giant, has filed for bankruptcy in Delaware, signaling financial challenges for the company in the American market.

Newslaundry

NL Interview: Pradip Saha on how Byju’s lost students, investor’s confidence, ‘abused’ staff

Byju’s, which led India’s edtech wave, has been on a downward spiral. Its losses more than doubled to Rs 8,245 crore in FY 2022. The valuation slumped from $22 billion to $1 billion between March 2022 and January 2024. Its employee strength plunged from a peak of over 58,000 to…

International Business Times

Indian Tech Startups Head For The Markets In 2024, After Dodging Funding Winter

India's startup ecosystem is a vibrant and exciting space, bursting with potential and brimming with success stories.

The Times of India

Byju’s makes a surprise $1.2 billion repayment proposal to lenders

BENGALURU: Indian edtech titan Byju’s has made a surprise repayment proposal to lenders, in which the firm has offered to pay back its entire $1.2 billion term loan in less than six months, according to people familiar with the situation.

The Times of India

Byju’s seeks to calm investors as crisis escalates

The billionaire founder of Byju’s, the Indian education-technology firm that lost its auditor and three board members in one week, has in recent days reached out directly to investors to assure them the startup will finally release long-delayed financials and strengthen accounting processes.

Dynamite News

Byju's founder Raveendran writes to employees on ED searches

Byju's Founder Byju Raveendran on Sunday informed his employees through email on Sunday that he was fully cooperating with the authorities after the directorate of enforcement conducted searches on Byju's premises. Read further on Dynamite News:

The Hindu

State teams pitch tent at Davos for World Economic Forum

Ministers from southern States attend WEF

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