From TechCrunch
By Manish Singh
November 29, 2023
Byju’s said on Wednesday that recent accusations by India’s crime-fighting agency regarding a breach of the nation’s foreign exchange rule are “solely technical” in nature and the startup anticipates that any resultant penalty would be minimal. The Bengaluru-headquartered startup, India’s most valuable, said it maintains full compliance with India’s forex rules and has filed requisite […]
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India’s top court clears way for Byju’s insolvency proceedings
India’s top court has put on hold a tribunal ruling that halted Byju’s insolvency proceedings — a win for U.S. creditors that are seeking to recover $1 billion from the once-celebrated edtech startup.The Indian Supreme Court on Wednesday ordered a stay on the National Company Law Appellate Tribunal’s recent approval of a settlement between Byju’s and the Indian cricket board BCCI, which had halted the insolvency proceedings. The Supreme Court’s order means that the proceedings will now resume.Th
Aug 14, 2024
Prosus slams Byju’s after quitting board, says India’s top startup ‘regularly disregarded advice’
Prosus, one of the largest investors in Byju’s, expressed its disappointment in the edtech giant’s reporting and governance practices on Tuesday, a month after the all the key investors quit the startup’s board. Prosus said in scathing a statement on Tuesday that Byju’s reporting and governance structures “did not evolve sufficiently for a company of that […]
Jul 24, 2023
India ordered an investigation into Byju’s days before auditor and board members resigned, report says
India’s corporate affairs ministry ordered an investigation into edtech startup Byju’s last week, television news channel CNBC-TV18 reported Friday, further complicating matters at the most Indian valuable startup that lost both its auditor and three board members on Thursday. The ministry has taken cognizance of “various corporate governance lapses” at Byju’s, the television channel reported, […]
Jun 22, 2023
Prosus slams Byju’s after quitting board, says Indian startup ‘regularly disregarded advice’
Prosus, a large investor in Byju’s has gone on record to express its disappointment in the edtech giant’s reporting and governance practices, a month after the all the key investors quit the startup’s board. Prosus, one of the most prolific investors in India, said in a statement on Tuesday that Byju’s “reporting and governance structures did […]
Jul 24, 2023