BYJU'S: News
26 Nov 2024
Byju RaveendranIndian government launches new probe into BYJU'S financial misconduct
The Indian government has launched an investigation into the financial and accounting practices of BYJU'S, the beleaguered online tutoring firm.
23 Oct 2024
BCCISupreme Court overturns NCLAT's approval of BYJU'S-BCCI settlement: Here's why
The Supreme Court of India has overturned the National Company Law Appellate Tribunal's (NCLAT) decision that approved a ₹158 crore settlement between edtech firm BYJU'S and the Board of Control for Cricket in India (BCCI).
18 Oct 2024
Byju Raveendran'Came for father's treatment': Byju Raveendran dismisses Dubai relocation rumors
Byju Raveendran, the founder of ed-tech start-up BYJU'S, has denied rumors of his move to Dubai.
24 Sep 2024
Byju RaveendranBYJU'S defaulted on $1.5 billion loan, rules US court
The Supreme Court of Delaware, US, has ruled that Indian edtech giant BYJU'S failed to repay a $1.5 billion loan.
07 Sep 2024
BusinessBYJU'S reacts to auditor's resignation amid insolvency, calls it 'escapist'
BDO (MSKA & Associates), the auditing firm for Indian edtech giant BYJU'S, has resigned amid allegations of a lack of transparency and cooperation from the company's management.
07 Sep 2024
Enforcement Directorate (ED)BYJU'S auditor MSKA resigns amid unresolved financial issues
MSKA & Associates, the auditing firm for Indian edtech giant BYJU'S, has resigned as the company's statutory auditor.
20 Aug 2024
National Company Law TribunalSC to hear BYJU'S insolvency case on August 22
The Supreme Court has dismissed a plea from BYJU'S, aimed at preventing the formation of a creditors' committee.
14 Aug 2024
BCCISupreme Court halts BYJU'S settlement with BCCI: Here's why
The Supreme Court of India has stayed National Company Law Appellate Tribunal's (NCLAT) decision, which allowed a settlement between edtech giant BYJU'S and the Board of Control for Cricket in India (BCCI).
16 Jul 2024
Board of Control for Cricket in India (BCCI)Amid insolvency proceedings, BYJU'S seeks out-of-court settlement with BCCI
Edtech giant BYJU'S, recently admitted to insolvency proceedings, is reportedly planning an out-of-court settlement with the Board of Control for Cricket in India (BCCI), as per Moneycontrol.
16 Jul 2024
BCCIBYJU'S vs BCCI: NCLT approves insolvency proceedings against edtech giant
The National Company Law Tribunal (NCLT) has admitted Think and Learn, the parent company of ed-tech firm BYJU'S, to the insolvency resolution process.
06 Jul 2024
Karnataka High CourtPay our ₹2.3cr dues or shut shop: Ex-staff to BYJU'S
Over 60 former employees of edtech firm BYJU'S, have threatened to initiate insolvency and bankruptcy proceedings against the company, over unpaid salaries.
02 Jul 2024
BengaluruKarnataka HC overturns NCLT's stay on BYJU'S second rights issue
The Karnataka High Court has overturned a previous order by the National Company Law Tribunal (NCLT) that had barred edtech firm BYJU'S from initiating a second rights issue.
27 Jun 2024
National Company Law TribunalOPPO claims BYJU'S owes ₹13 crore for app pre-installation
Chinese mobile phone manufacturer OPPO has accused edtech firm BYJU'S of owing it ₹13 crore.
26 Jun 2024
Byju RaveendranGovernment probe clears BYJU's of fraud but flags governance lapses
The Indian government has absolved online-education startup BYJU'S of financial fraud following a yearlong investigation by the Ministry of Corporate Affairs.
24 Jun 2024
National Company Law TribunalProsus writes off investment in BYJU'S, records $493 million loss
Tech investment firm Prosus has written off its 9.6% stake in BYJU'S, resulting in a loss of $493 million, as per its FY24 annual report.
23 Jun 2024
Karnataka High CourtBYJU'S challenges NCLT order barring second rights issue
Ed tech giant BYJU'S has filed a writ petition in the Karnataka High Court, contesting an order from the National Company Law Tribunal (NCLT) that hinders its second rights issue.
05 Jun 2024
Byju RaveendranBYJU'S term loan lenders initiate bankruptcy proceedings against US assets
Term-loan lenders of BYJU'S Alpha Inc and Glas Trust Company have initiated involuntary Chapter 11 bankruptcy proceedings against three US-based guarantors - Epic Creations Inc, Neuron Fuel Inc, and Tangible Play Inc.
22 May 2024
National Company Law TribunalNCLT serves 3 notices to BYJU'S over unpaid dues
The National Company Law Tribunal (NCLT) has issued three notices to Think and Learn Pvt Ltd, the parent company of edtech giant BYJU'S, over unsettled debts owed to operational creditors.
22 May 2024
Byju RaveendranUS court penalizes BYJU'S co-founder Riju Ravindran for concealing funds
Riju Ravindran, co-founder of the edtech behemoth BYJU'S, has been penalized by a US Bankruptcy Court for contempt.
02 May 2024
National Company Law TribunalNCLT issues notice in BYJU'S insolvency case initiated by OPPO
The National Company Law Tribunal (NCLT) in Bengaluru has issued a notice regarding an insolvency plea against ed-tech giant BYJU'S, initiated by mobile phone manufacturer OPPO.
15 Apr 2024
Byju RaveendranBYJU'S India CEO Arjun Mohan resigns, founder Raveendran takes charge
Arjun Mohan, the CEO of BYJU'S India, has resigned from his position just over six months after assuming it.
09 Apr 2024
National Company Law TribunalAfter two months delay, BYJU'S commences salary payout for March
Beleaguered edtech firm BYJU'S has initiated the process of disbursing delayed salaries for March.
04 Apr 2024
Byju RaveendranFrom billionaire to zero: Byju Raveendran's net worth wiped out
Byju Raveendran, the co-founder of edtech giant BYJU'S, has been removed from Forbes's World's Billionaires List 2024.
02 Apr 2024
National Company Law TribunalBYJU'S fires employees via calls in new wave of layoffs
BYJU'S, a prominent edtech firm, has initiated a new round of layoffs affecting an estimated 100 to 500 employees, primarily in the sales department, as reported by Moneycontrol.
29 Mar 2024
Byju RaveendranBYJU'S invites dissenting shareholders to participate in rights issue
BYJU'S, the edtech company currently facing challenges, has extended an invitation to its dissenting shareholders to participate in a rights issue within the next 72 hours.
12 Mar 2024
FIITJEEFIITJEE withholds employee salaries for second consecutive month: Here's why
FIITJEE, a leading entrance test preparation company, has withheld employee salaries for the second consecutive month amid stagnant growth and increasing competition.
11 Mar 2024
Byju RaveendranBYJU'S shuts down offices, asks employees to work from home
The road to recovery seems distant for BYJU'S while it grapples with maintaining cash flow.
28 Feb 2024
Byju RaveendranNCLT issues fresh insolvency notice to BYJU'S: Here's why
The National Company Law Tribunal (NCLT) has served a notice to crisis-ridden BYJU'S, following a plea submitted by US-based GLAS Trust Company.
27 Feb 2024
National Company Law TribunalNCLT hearing: Why BYJU'S investors are against rights issue
Today, a showdown unfolded at the National Company Law Tribunal (NCLT) in Bengaluru between four investors of ed-tech giant BYJU'S and the company's board of directors.
23 Feb 2024
Byju RaveendranBYJU'S dramatic EGM ends, Karnataka HC to decide founder's ouster
BYJU'S held an extraordinary general meeting (EGM) today to vote on the removal of CEO and founder Byju Raveendran.
22 Feb 2024
Byju RaveendranWhy Enforcement Directorate has restricted Byju Raveendran from leaving India
Acting on the Enforcement Directorate's (ED) order, the Bureau of Immigration (BOI) has issued a lookout circular (LOC) against Byju Raveendran, the founder and CEO of BYJU'S.
21 Feb 2024
Byju RaveendranBYJU'S raises $200M through rights issue at 99% valuation cut
BYJU'S , the embattled edtech company, has managed to raise $200 million through a fully subscribed rights issue at a 99% valuation cut, as reported in a shareholder letter written by founder and CEO Byju Raveendran.
19 Feb 2024
Byju RaveendranBYJU'S gets lifeline with $300M pledge ahead of rights issue
Edtech giant Think and Learn, which operates under the BYJU'S brand, has secured a $300 million commitment from investors for its ongoing rights issue, as per PTI.
07 Feb 2024
BusinessFresh trouble for BYJU'S as it receives another insolvency notice
The National Company Law Tribunal (NCLT) in Bengaluru has served a notice to edtech giant BYJU'S, following an insolvency bid filed by customer support company Teleperformance Business Services India Ltd.
02 Feb 2024
Byju RaveendranBYJU'S accuses investors of 'conspiring' against company, delays employee salaries
BYJU'S leadership has accused some investors of plotting to remove top executives during a challenging time, as stated in a letter to employees.
02 Feb 2024
Byju RaveendranDefaulting on $1.2B loan, BYJU'S US unit files for bankruptcy
BYJU'S Alpha Inc., a subsidiary of Indian edtech giant BYJU'S, has filed for bankruptcy protection in the US after defaulting on $1.2 billion loan.
29 Jan 2024
Byju RaveendranBYJU'S slashes valuation by 99% in desperate funding bid
BYJU'S has cut its valuation as by a staggering 99% in the latest rights issue. Once touted as the world's most valuable edtech start-up, the company is struggling to raise money.
25 Jan 2024
Byju RaveendranBillionaire behind Manipal Group becomes largest stakeholder in BYJU'S Aakash
Ranjan Pai, the billionaire chairman of Manipal Education and Medical Group, has bought a 40% stake in BYJU'S Aakash Education Services Ltd. for $300 million.
23 Jan 2024
Byju RaveendranBYJU'S plans to raise funds at 90% discounted valuation
Embattled edtech unicorn BYJU'S is looking to raise over $100 million from current investors at a massive 90% discount to its previous $22 billion valuation, per Bloomberg.
23 Jan 2024
BusinessBYJU'S net loss swells to Rs. 8,245 crore in FY22
Embattled edtech unicorn BYJU'S has submitted its audited financials for FY22 to the registrar of companies (RoC) after a 22-month delay.
12 Jan 2024
StartupsFrom $22bn to $1bn: BlackRock devalues BYJU'S by 95%
BlackRock, a prominent asset manager, has slashed the valuation of BYJU'S by a staggering 95%, bringing it down from $22 billion to just $1 billion, as per Tech Crunch.
22 Dec 2023
Board of Control for Cricket in India (BCCI)NCLT to hear BCCI vs BYJU'S case on January 17
The National Company Law Tribunal (NCLT) in Bengaluru has set a hearing for January 17 in the high-profile case between the Board of Control for Cricket in India (BCCI) and edtech giant BYJU'S.
04 Dec 2023
Byju RaveendranBYJU'S founder pledges homes to pay staff their salaries
Byju Raveendran, the founder of Indian edtech giant BYJU'S, pledged his and his family members' homes.
29 Nov 2023
Byju RaveendranProsus downgrades edtech giant BYJU's valuation to less than $3bn
Tech investor Prosus has reduced the value of its investment in Indian edtech giant BYJU'S, leading to a company valuation of under $3 billion.
27 Nov 2023
BusinessBYJU's appoints Jiny Thattil as CTO following Anil Goel's exit
Edtech powerhouse BYJU's has named Jiny Thattil as its new Chief Technology Officer (CTO), succeeding Anil Goel, who is departing the company after three years.
21 Nov 2023
Enforcement Directorate (ED)ED uncovers Rs. 9,000cr FEMA violation at BYJU'S, issues notice
The Enforcement Directorate (ED) has issued a show-cause notice to BYJU'S, accusing the company of violating the Foreign Exchange Management Act (FEMA) to the tune of Rs. 9,000 crore.
20 Nov 2023
StartupsBYJU'S delays final settlements of laid-off employees yet again
BYJU'S, the ed-tech giant based in Bengaluru, has once again failed to meet the deadline for providing full and final settlements to employees who were laid off, as per Moneycontrol.
10 Nov 2023
BusinessRanjan Pai ends BYJU'S-Kempner dispute with Rs. 1,400cr debt deal
Manipal Group's Ranjan Pai has resolved issues between BYJU'S and investment management company Davidson Kempner, by purchasing the latter's debt investment in the edtech firm for Rs. 1,400 crore.
06 Nov 2023
BusinessBYJU'S in talks to sell US unit Epic for $400mn
Indian edtech giant BYJU'S is reportedly in advanced talks to sell its US-based kids' digital reading platform, Epic! Creations Inc., for about $400 million (roughly Rs. 3,328.5 crore) to Joffre Capital Ltd.
24 Oct 2023
BusinessByju's CFO Ajay Goel resigns after seven months, rejoins Vedanta
Ajay Goel, who assumed the role of CFO at Byju's in April, has announced his departure from the edtech behemoth after a mere seven months.
20 Oct 2023
Byju RaveendranBYJU'S founder in talks to sell controlling stake in Aakash
BYJU'S CEO Byju Raveendran, is in talks with private equity firms like Bain Capital and KKR about selling a controlling stake in Aakash Educational Services Ltd (AESL), the Economic Times has reported.
16 Oct 2023
Aakash InstituteAakash Chaudhry's return as Aakash Educational Services CEO imminent
Aakash Chaudhry is gearing up to resume his role as CEO of Aakash Educational Services, a tutoring branch purchased by BYJU'S in April 2021.
11 Oct 2023
SingaporeBYJU'S lenders hire Kroll to safeguard assets of Great Learning
Kroll, a risk advisory firm, has been hired by BYJU'S lenders to protect the charged assets (assets used as collateral to secure loans) of Great Learning and BYJU'S Singapore branch.
27 Sep 2023
StartupsBYJU's to fire around 4,000 employees in major restructuring move
Edtech giant BYJU'S is reportedly planning a significant restructuring exercise, including a fresh round of layoffs impacting up to 4,000 jobs, under its new India CEO, Arjun Mohan.
18 Sep 2023
BusinessBYJU'S delays settlements of 1,000 laid-off employees to November
BYJU'S, the world's most valuable edtech company, has postponed the full and final settlements of nearly 1,000 laid-off workers from September to November as it faces a liquidity crunch.
13 Sep 2023
Byju RaveendranBYJU'S accused of hiding $533 million from lenders
In a startling turn of events, edtech giant BYJU'S has been accused by lenders of hiding a substantial sum of $533 million in a little-known hedge fund named Camshaft Capital Fund, per Bloomberg.
