Page 3 - Latest Updates on Byju Raveendran
Cash-strapped Byju's executive, biz partner found in contempt of US court
Byju's manager Vinay Ravindra and company ally Rajendran Vellapalath failed to answer questions about their roles in stripping software, cash and other assets from Byju's US businesses
 "Cash-strapped Byju's executive, biz partner found in contempt of US court")
Downfall of Byju's, India's hot edutech startup, wipes out US debtholders
Recoveries will need to come from how Indian courts rule on the company's broader insolvency plan and how it aims to repay creditors; it's unclear how much, may be available to those in US
 "Downfall of Byju's, India's hot edutech startup, wipes out US debtholders")
Don't want to go Byju's way: Aakash Educational Services to NCLAT
NCLAT refuses to set aside order halting move to amend AoA
 "Don't want to go Byju's way: Aakash Educational Services to NCLAT")
Byju's insolvency: Riju Raveendran moves NCLT seeking inclusion in case
Byju's US-based lenders had opposed the settlement, claiming that the money used to repay BCCI was tainted as it was part of the $533 million that had allegedly gone "missing"
 "Byju's insolvency: Riju Raveendran moves NCLT seeking inclusion in case")
Trouble mounts for Byju's as firm faces new probe over financial practices
The federal government has asked the regional office of the Registrar of Companies in Hyderabad to investigate Byju's books to ascertain if the company misreported financial statements
Byju's founder told ally to flee US to avoid testifying against him
William R Hailer said Raveendran sent him a plane ticket to Dubai just two days before Hailer was set to testify about Raveedran's efforts to regain control of parts of the Byju's education empire
Byju's founder 'tried to regain firm' with cash hidden from US lenders
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
 "Byju's founder 'tried to regain firm' with cash hidden from US lenders")
Byju's US units wrongly stripped of education app, says federal judge
Dorsey ordered Apple to return ownership of the apps to the US units. A lawyer for an Indian firm that had been wrongly given ownership of the apps unsuccessfully tried to persuade Dorsey
 "Byju's US units wrongly stripped of education app, says federal judge")
Byju Raveendran, Pai planning an 'out-of-court' settlement with US lenders
The dispute revolves around the $1.5 billion Term Loan B (TLB) guaranteed by Think and Learn Pvt Ltd, the parent of Byju's
 "Byju Raveendran, Pai planning an 'out-of-court' settlement with US lenders")
Byju's worth zero now: How the cookie crumbled for India's edtech giant
Byju Raveendran, founder and chief executive of crisis-hit edtech firm Byju's, said the company, once valued at $22 billion, has seen its valuation plummet to zero
 "Byju's worth zero now: How the cookie crumbled for India's edtech giant")
Byju introspects, says Byju's worth zero now, promises a turnaround
Last month, the Supreme Court reserved its verdict on a plea of a US firm against NCLAT order stopping insolvency proceedings against Byju's
Byju's founder denies fraud, says missing funds used for legitimate purpose
The company got the $1.2 billion loan nearly three years ago as it planned to use most of the proceeds on an international expansion, Raveendran claimed
 "Byju's founder denies fraud, says missing funds used for legitimate purpose")
Byju's affiliate drained cash from US units, violating bankruptcy rules
Money that should be used to repay creditors was instead siphoned off to Whitehat Education Technology, a court-approved trustee for the affiliates said in court papers
 "Byju's affiliate drained cash from US units, violating bankruptcy rules")
BCCI secy appointment off Apex Council agenda as Shah preps for ICC chair
There will also be a discussion on the inauguration of the state-of-the-art National Cricket Academy on the outskirts of Bengaluru
 "BCCI secy appointment off Apex Council agenda as Shah preps for ICC chair")
Byju Raveendran apologises to employees, pledges support amid challenges
As a small token of appreciation, Raveendran said he has managed, against all odds, to borrow some funds and to compensate the employees and urged them to continue teaching
 "Byju Raveendran apologises to employees, pledges support amid challenges")
Byju's may not have to pay Glas Trust; verified claim is only Rs 20 cr: CEO
Glas Trust has filed an appeal against Byju's claiming dues of $ 1.35 billion, or Rs 11,432.98 crore, arising out of the raising of $ 1.2 billion by the edtech firm as Term Loan B
Byju's hits back, says BDO's lack of communication with IRP suspicious
Byju's statement further added that they had 'multiple call recordings', where BDO representatives explicitly suggested backdating these documents, which Byju's refused to do
 "Byju's hits back, says BDO's lack of communication with IRP suspicious")
Byju's lenders kicked off creditor panel by court official Srivastava
Lenders have been trying to force Byju's into an insolvency proceeding in a court in India for months, but with limited success
 "Byju's lenders kicked off creditor panel by court official Srivastava")
US lender Glas Trust not part of insolvency panel of Byju's: Report
Byju's was once a darling of global investors and valued at $22 billion in 2022, but is now facing insolvency due to its dispute with US lenders
 "US lender Glas Trust not part of insolvency panel of Byju's: Report")
Byju's foreign investors ask SC to hear their concerns in insolvency case
The four investors are the biggest foreign shareholders in Byju's with a combined stake of nearly 17 per cent