 "Byju’s struggles as the Supreme Court halts NCLAT relief, placing founder Byju Raveendran’s control in jeopardy amid insolvency disputes.")
The Supreme Court has reserved its ruling on a US firm’s appeal against the NCLAT decision that halted insolvency proceedings for Byju’s, the prominent ed-tech company. The court is maintaining the current status until it issues its judgment, preventing any creditor meetings related to Byju’s case in the meantime. Previously, the NCLAT had provided Byju’s ...
BYJU’S is facing legal challenges from US lenders represented by Glas Trust, who demand repayment of a $1.2 billion Term Loan B. The founder, Byju Raveendran, claims the company’s verified debt is only around Rs 20 crore, arguing this means he may not owe anything. However, the lenders insist that both Raveendran and the Insolvency ...
Byju’s, the Indian ed-tech giant, faces a surprising US court ruling that placed its subsidiaries into involuntary Chapter 11 bankruptcy due to non-compliance with creditor demands. This decision impacts companies like Neuron Fuel Inc. and Epic! Creations Inc., conflicting with ongoing insolvency proceedings in India. Byju’s Interim Resolution Professional, Pankaj Srivastava, is seeking to halt ...
The Supreme Court is set to hear an appeal on September 17 from Glas Trust Company LLC, a US-based creditor, regarding the ed-tech firm BYJU’s. This follows a previous National Company Law Appellate Tribunal (NCLAT) decision that paused insolvency proceedings against BYJU’s and approved a Rs 158.9 crore settlement with the Board of Control for ...
 "Byju’s defies auditor BDO’s resignation, alleging unethical demands for backdated reports amid ongoing insolvency proceedings. Tensions escalate dramatically.")
Byju’s, the troubled edtech company, has responded to the resignation of its auditor BDO, claiming that BDO made unethical requests, including asking to backdate reports. Byju’s insists it complied with all legal requests but refused to engage in any illegal activities. They also argued that BDO’s resignation came after the 45-day deadline for additional information, ...
Byju’s, the Indian edtech giant, is facing significant challenges as its auditor, BDO Global, has resigned amid ongoing insolvency proceedings. The company claims it could not provide the requested documents because its board is currently suspended due to these proceedings. Byju’s has requested a forensic audit of BDO’s resignation, which was ordered by an insolvency ...
Byju’s, once India’s leading ed-tech startup, is facing severe financial challenges, with Indian tax authorities claiming $101 million in dues as it enters insolvency. Valued at $22 billion in 2022, the company’s fortunes have plummeted due to regulatory issues and a dispute with U.S. lenders over $1 billion in unpaid debts. A court-appointed resolution professional ...
The Supreme Court has agreed to hear an appeal from Glas Trust Company LLC, a US creditor, regarding a recent NCLAT judgment that paused insolvency proceedings against Byju’s, the prominent ed-tech firm. This decision comes after NCLAT approved a Rs 158.9 crore settlement with the BCCI over outstanding sponsorship payments. Byju’s lawyers argue the petition ...
 "Byju’s Bankruptcy Drama: Lenders’ Fight for 3 Million Amid Allegations")
Byju’s, the education technology company, is facing major financial challenges as US lenders push for over $1.2 billion in repayments amid ongoing insolvency proceedings in India. A court official in India removed these lenders from a key creditors committee, hampering their influence in the repayment plan. The lenders accused the official, Pankaj Srivastava, of unfair ...
