Page 6 - Latest Updates on Byju Raveendran
Cash-strapped Byju's may pay salary to employees for April this week
Last month, Byju Raveendran, the founder and chief executive of Byju's, secured a private debt of about Rs 30 crore to pay the March salaries of employees
 "Cash-strapped Byju's may pay salary to employees for April this week")
Byju's continues facing cash crunch as NCLT defers hearing to June 6
Byju's and its investors are fighting at the National Company Law Tribunal (NCLT) over the company's rights issue of $200 million in a petition alleging oppression and mismanagement
 "Byju's continues facing cash crunch as NCLT defers hearing to June 6")
Raveendran secures pvt debt to pay March salaries of employees at Byju's
The development comes ahead of the April 23 hearing at NCLT and company may request the tribunal allow it to use the rights issue money
 "Raveendran secures pvt debt to pay March salaries of employees at Byju's")
Raveendran raised debt to pay March salaries of Byju's employees
Byju Raveendran, the Founder and CEO of Think and Learn, has raised debt in his personal capacity to pay the salaries of employees for March
 "Raveendran raised debt to pay March salaries of Byju's employees")
Byju's India CEO Arjun Mohan moves on, company divided into three divisions
Byju's is consolidating its businesses into three focused divisions. These include The Learning App, Online Classes and Tuition Centres, and Test-prep
 "Byju's India CEO Arjun Mohan moves on, company divided into three divisions")
Byju Raveendran to take over firm's daily ops after CEO Mohan's resignation
This new phase will also see Byju Raveendran taking a more hands-on approach in spearheading the daily operations of the company," the company said
 "Byju Raveendran to take over firm's daily ops after CEO Mohan's resignation")
'Pleased to inform': Byju's begins salary payout after delay of 2 months
Byju's said that despite its efforts, the company is yet to secure approval to access the funds from the rights issue
 "'Pleased to inform': Byju's begins salary payout after delay of 2 months")
Edtech firm Aakash Educational Services appoints Deepak Mehrotra as new CEO
An IIT Roorkee electrical engineering alumnus, Mehrotra has completed an Executive program from The Wharton School, Philadelphia (USA)
 "Edtech firm Aakash Educational Services appoints Deepak Mehrotra as new CEO")
Forbes list: Byju Raveendran no longer a billionaire, now has $0 net worth
Byju's has been grappling with delayed financial results, a wave of board member departures, and various other challenges
Edtech company Byju's goes ahead with cutbacks, fires 500 staffers
Sales, marketing, and teaching roles feel the biggest impact
 "Edtech company Byju's goes ahead with cutbacks, fires 500 staffers")
Byju's delays salaries for 2nd month in a row amid rights issue dispute
Cash-strapped Byju's and its investors are involved in a dispute at the National Company Law Tribunal (NCLT) over the company's $200 million rights issue
 "Byju's delays salaries for 2nd month in a row amid rights issue dispute")
Byju's gets 50% vote on rights issue, asks miffed investors to participate
Raveendran says firm's priorities remain with existing shareholders
 "Byju's gets 50% vote on rights issue, asks miffed investors to participate")
NCLT refuses to stay Byju's EGM to raise capital through rights issue
According to sources at Byju's, the court was convinced by evidence submitted and arguments made by Byju's counsels, who made a case that the "only objective of the petitioners is to be restrictive"
NCLT declines to stay EGM called by Byju's over $200 million rights issue
The EGM was called to increase the authorised share capital of the embattled edtech firm, following the recent USD 200 million rights issue
 "NCLT declines to stay EGM called by Byju's over $200 million rights issue")
US bankruptcy court issues ruling in favour of Byju's term loan lenders
In making its ruling, the ad hoc group stated that the Court confirmed that the transfer of funds from Byju's Alpha, and their continued concealment, likely constitutes a fraudulent conveyance
 "US bankruptcy court issues ruling in favour of Byju's term loan lenders")
Byju's must freeze $533 million in mixed win for lenders, says judge
Dorsey's order was aimed at Riju Ravindran, one of the company's directors and the brother of founder Byju Raveendran
Karnataka HC extends interim protection to Byju Raveendran till March 28
At the February 23 EGM, Byju's investors including Prosus, General Atlantic, and Peak XV voted to remove Byju Raveendran as CEO. However, a Karnataka HC order prevented its implementation
 "Karnataka HC extends interim protection to Byju Raveendran till March 28")
Karnataka HC extends interim protection for Byju's CEO amid ousting threat
Four investors of Byju's filed the suit to oust Raveendran from the company, alleging mismanagement
 "Karnataka HC extends interim protection for Byju's CEO amid ousting threat")
Byju's shuts all regional offices, asks 15,000 employees to work from home
The move has been in place for the past few months as part of a restructuring exercise as the struggling edtech giant faces a severe funding crunch and battles lenders, according to the sources
 "Byju's shuts all regional offices, asks 15,000 employees to work from home")
Byju's processes part of pending salaries, aims to pay balance soon
Edtech company will pay the balance once the issue's funds are available
 "Byju's processes part of pending salaries, aims to pay balance soon")