Page 2 - Byju's

Supreme Court rejects BCCI, Riju Raveendran plea in Byju's settlement case

The Supreme Court on Monday upheld an order rejecting the appeals of the BCCI and Byju's co-founder Riju Raveendran seeking withdrawal of insolvency proceedings against his company. A bench comprising Justices J B Pardiwala and R Mahadevan dismissed the appeals filed by the Board of Control for Cricket in India (BCCI) and Raveendran challenging the National Company Law Appellate Tribunal (NCLAT) verdict on April 17. BCCI and Raveendran had previously challenged an order of the Bengaluru bench of the National Company Law Tribunal, which on February 10 directed to place their settlement offer before the new Committee of Creditors (CoC), in which US-based Glas Trust, the trustee for lenders to which Byju's owes USD 1.2 billion, is a member. A two-member Chennai bench of the NCLAT comprising Justice Rakesh Kumar Jain and Jatindranath Swain upheld the directions passed by the NCLT and said the settlement proposal was filed after the formation of CoC, hence as the provisions of Section 12

Glas Trust calls Byju's defamation threat a bid to divert from court orders

US-based lender agent Glas Trust has alleged that Byju's founders' plan to file a defamation case is an attempt to distract from the facts after several court orders against them. The legal counsel of Byju's founders, J Michael McNutt, rejected the allegations levelled by Glas Trust, calling it "incomplete and misleading". The counsel of Byju's founders, Byju Raveendran and Divya Gokulnath, on Thursday said they are gearing up to file an over USD 2.5 billion suit against Glas Trust and others for damage to their reputation and business. "Byju Raveendran's latest act of threatening defamation claims against GLAS Trust and the Term Loan B Lenders is a transparent attempt to distract from the facts, coming on the heels of a US federal court holding him in contempt. The fact of the matter is that every court to consider the issues has ruled against Raveendran and his cohorts," Glas Trust said. Glas Trust Company LLC is the trustee for lenders to whom Byju's owes USD 1.2 billion. Byju's

Byju's founders plan $2.5 billion lawsuit against investors, lenders

Education startup's creators blame financial backers for the company's collapse from $22 billion valuation to insolvency

Aakash Educational escalates tussle with EY over professional misconduct

Indian test-prep company claims consulting giant advised rival Allen Career Institute while handling its own financial affairs and Byju's insolvency case

Byju's offloads US assets at steep loss amid mounting financial crisis

Byju's subsidiaries Epic and Tynker were acquired by TAL Education and CodeHS for $95 million and $2.2 million after a 48-round auction, as a part of ongoing bankruptcy proceedings in the US

NCLAT rejects Byju's plea on Aakash shareholding status quo directive

The appellate tribunal said the NCLT order was a consensual interlocutory directive that did not determine rights, and thus no interference was warranted at this stage

Byju's co-founder moves NCLT to remove GLAS Trust from creditors' panel

Byju's co-founder Riju Ravindran has approached NCLT, alleging GLAS Trust falsely claimed creditor status and seeking its removal from the Committee of Creditors in the ongoing insolvency case

Aakash Educational moves NCLT to implead EY in edtech firm Byju's dispute

Aakash urges NCLT to add EY and its partner as parties in Byju's dispute, citing conflict of interest and alleging professional misconduct in corporate advisory role

Byju's app delisted from Google Play Store over unpaid dues to vendor

Beleaguered edtech firm Byju's learning app has been delisted from Google Playstore due to non-payment of dues to its vendor Amazon Web Services, according to sources. While some of the other apps of Think and Learn, which operate under the Byju's brand, continue to be functional on Google Playstore. "BYJU's Learning app has been delisted from Playstore because of non-payment to Amazon Web Services, which provides support to the app. Byju's business is now being managed by an Insolvency Resolution Professional who has to manage all payment-related issues as well," a source told PTI. An email sent to Think and Learn's Insolvency Resolution Professional (IRP) Shailendra Ajmera did not elicit any reply. Byju's Leaning App covered mathematics, physics, chemistry and biology for classes 412 and social studies for classes 68 as well. The app also provides preparation support for competitive exams like JEE, NEET, and IAS. The app continues to be available on Apple's App Store. Byju's Pr

Aakash accuses EY of conflict of interest, seeks Byju's-linked records

AESL has accused EY of conflict of interest for advising both AESL and Byju's during their failed acquisition and demanded disclosure of all related documents and communications

Byju Raveendran eyes return via AI model, says students will be compensated

BYJU'S CEO Byju Raveendran apologises for past service disruptions, pledges compensation to affected students, and outlines vision for AI-powered BYJU'S 3.0

NCLAT sets aside BCCI and Riju Raveendran's plea on Byju's settlement

The National Company Law Appellate Tribunal (NCLAT) has set aside the appeals filed by BCCI and Riju Raveendran seeking withdrawal of insolvency proceedings against Byju's and consider the settlement between the debt-ridden edtech firm and the apex cricket body. They had challenged the order passed by the Bengaluru bench of the National Company Law Tribunal, which had on February 10, 2025 directed to place their settlement offer before the new Committee of Creditors (CoC), in which US-based Glas Trust, the trustee for lenders to which Byju's owes USD 1.2 billion, is a member. A two-member Chennai bench of the NCLAT comprising Justice Rakesh Kumar Jain and Jatindranath Swain upheld the directions passed by the NCLT and said the settlement proposal was filed after the formation of CoC, hence as the provisions of section 12 A of the Insolvency & Bankruptcy Code, it requires the approval of the lender's body. Both BCCI and Riju have contended that since the application under Section .

Lenders to SPV in Delaware sue Byju Raveendran for 'stealing' $533 mn

Edtech pioneer, wife and close business associate accused of 'masterminding theft of more than half a billion dollars'

US lender trustee Glas Trust denies allegations by Byju Raveendran

Glas would take all necessary actions to hold Byju Raveendran and his associates accountable for the harm caused to lenders and thousands of T&L customers, says spokesperson

Byju Raveendran files FIR against former Byju's RPs, EY, and Glas Trust

Valued at $22 billion in 2022, Byju's has seen its fortunes almost wiped out due to a massive cash crunch, regulatory issues and disputes with investors

'Will rise again': Byju Raveendran promises comeback and company relaunch

Raveendran joined X on Friday to reveal the "truth" about the company and the events of the past two years

NCLT orders status quo on shareholding of Aakash Educational Services

This was on a plea by the resolution professional of the parent company of Byju's, Think and Learn Pvt Ltd

NCLT orders status quo on shareholding of Aakash Educational Services

This was on a plea by the resolution professional of the parent company of Byju's, Think and Learn Pvt Ltd.

Would have emerged from insolvency if IRP acted on time: Byju's tells NCLAT

"There was a settlement (with BCCI), that settlement was before the Committee of Creditors (CoC) was being constituted," said Arun Kathpalia, the senior advocate appearing for Raveendran

Aakash launches new platform Aakash Digital to strengthen online footprint

AESL aims to establish 50 studios for teachers to facilitate online learning. Currently, 27-28 studios have been established, with the remaining set to be active by the end of the month