Page 20 - Byju's

Artificial intelligence: Why India risks falling behind in the tech race

India's startup landscape is caught in a time warp, with embarrassed investors marking down their stakes in Byju's, an online education company collapsing under the weight of its own reckless growth

No, Byju, it is about more than your life

A tutorial for EdTech to go back to the elementary

Rise above the noise: Byju Raveendran talks 'struggles', not layoffs

Edtech is not a pandemic phenomenon but a permanent fixture, CEO says in townhall

Kempner reviews $250 million loan to edtech firm Byju's amid crises

The firm is reviewing its lending decision after the company lost its auditor and three board members in the same week

Turmoil at Byju's highlights hurdles for India's startup ecosystem

Already stuck in a 15-month funding slump, India's young companies are in danger of becoming collateral damage to the country's highest-profile startup crisis in years

Top headlines: Adani cos under Sebi lens, TCS on foreign remittances

Business Standard brings you the top headlines at this hour

Court rejects Byju's TLB lenders' request to investigate $500 mn transfer

A Delaware court has rejected a request by edtech major BYJU'S Term Loan B lenders to investigate into USD 500 million transfer from its US-based subsidiary BYJU'S Alpha to other entities, according to details shared by sources. BYJU'S had denied allegations levelled by its USD 1.2 billion Term Loan B lenders, saying it has never defaulted on the payments. "Rejecting the lenders' application for information in relation to the USD 500 million (part of the funds received by BYJU'S Alpha), the Vice Chancellor remarked that lenders had "no basis to further investigate the transfer," the sources said. In doing so, the Vice Chancellor has put a stop to the lenders' unwarranted fishing expedition and attempted to introduce a non-issue into the proceedings, which is limited to determining the control of BYJU'S Alpha," a source said. TLB Lenders, through their agent, GLAS Trust Company, have filed suit against BYJU'S US-based subsidiary for moving out USD 500 million from BYJU'S Alpha and o

Prosus NV slashes valuation of edtech giant Byju's to $5.1 billion

Prosus had downsized the value of its 9.6% stake in Byju's to around $493 million in the financial year ended March 31, the report added

Edtech giant Byju's seeks to raise $1 billion to stave off investor revolt

The education startup is offering benefits to the potential investors, including preferential treatment in the case of liquidation, the report said

Byju says firm's $22 billion valuation intact, accepts past mistakes

Raveendran told the shareholders that discussions were on for several weeks regarding the reconstitution of the board to strengthen processes

Byju's yet to pay provident fund for several months to many ex-employees

Byju's made contributions for December 2022, January, February and March on June 19 and then too all employees did not receive the payment

TMS Ep462: Byju's problems, India-US ties, Indian IT stocks, jet engines

Can Byju's revive its fortunes? Will chips, jets and rockets propel India-US ties? What do Accenture's Q3 earnings mean for Indian IT stocks? India-US deal: What are jet engines? All answers here

Edtech major Byju's tells investors it will file 2022 earnings by Sept

Deloitte said on Thursday it was severing ties with Byju's, one of India's most successful startups, over its "long-delayed" financial statements for the year ended March 2022

Byju's staff say morale waning amid turmoil amid layoffs at edtech firm

Byju's has already let go of several thousand employees this year due to slowing demand and it is locked in a legal battle with its lenders and faces regulatory scrutiny

Prosus, Peak XV Partners, CZI confirm stepping down from Byju's Board

The resignations by the auditor and board members complicate the troubles that the company is facing

Mature start-ups need fully functional boards: Auditing major Deloitte

Deloitte has recommended that a mature start-up should forecast CSR spends depending on profitability, and a CSR policy should be made available on the company website

Byju's early investor Pai calls for better governance after auditor exit

Deloitte disclosed on Thursday that it was resigning as auditor because Byju's had delayed providing financial statements for 2021-22

Edtech major Byju's in talks with investors who quit board to reconsider

Byju's investors had in recent months raised concerns with the company's leadership related to audit delays and how it dealt with issues relating to its lenders, one source said

Corporate affairs ministry ordered inspection of Byju's last week: Report

The ministry has taken cognisance of various corporate governance lapses at Byju's, the television channel reported

Corporate Affairs Ministry ordered inspection of Byju's recently: Report

We have not received any such correspondence from MCA regarding this, and are not aware of any such inspection, the spokesperson said in a statement