| Date | Title | Description |
| 25.12.2024 | From Burn Rates to Unicorns: How Startups Can Navigate the Evolving Venture Landscape The Indian startup ecosystem faces challenges like capital inefficiency, misaligned growth strategies, and overspe... | The Indian startup ecosystem is brimming with potential, but it is not without its challenges. As startups scale, they face a lot of challenges that hinder their growth, from excessive spending and capital inefficiency to misaligned growth ... |
| 24.12.2024 | Zerodha and Zomato founders bet on Sparkl Edventure "I've been wondering for a long time if students will have different outcomes if they have access to education that is more personalised and cu... | Aakash Chaudhry, founder of Aakash Institute, has secured USD 4 million in seed funding for his latest edtech venture, Sparkl Edventure, with participation from Zomato's Deepinder Goyal and Zerodha's Nithin Kamath. The funding round, led by... |
| 23.12.2024 | ICAI Says Probe Into Alleged Audit Lapses At BYJU’S Still Ongoing | SUMMARY
ICAI president Ranjeet Kumar Agarwal has revealed that the institute’s disciplinary committee is still checking for alleged auditing lapses at edtech giant BYJU’S
BYJU'S tryst with the apex CA body dates back to 2022 when the latter... |
| 23.12.2024 | Byju’s-owned Aakash’s former CEO launches new edtech startup Sparkl | Byju’s-owned Aakash’s former CEO Aakash Chaudhry is making a comeback into the Indian edtech landscape with the launch of online learning platform Sparkl.
The new edtech venture has raised seed funding from Rainmatter, the fund led by Nithi... |
| 13.12.2024 | Edtech Investors Avoided The Space This Year | 5 Shares Email Facebook Twitter LinkedIn
It has not been a good year for edtech startup funding.
Barring some last minute mega-rounds, investment in the space for 2024 is on track to hit the lowest level in years. The same holds true for de... |
| 06.12.2024 | NCLAT Refuses To Set Aside Order Halting Amendment To Aakash’s AoA | SUMMARY
NCLAT has refused to set aside the NCLT halting Aakash Educational Services from amending its Articles of Association (AoA)
Aakash’s counsel argued today that the company was looking to amend its AoA not to raise a debt but raise fr... |
| 04.12.2024 | US Bankruptcy Court Mulls Sanctions On BYJU’S Content Manager, Business Ally | SUMMARY
BYJU’S content manager Vinay Ravindra and company ally Rajendran Vellapalath, founder of Dubai-based tech startup Voizzit Technology, could be slapped with penalties worth millions of dollars in the US
The duo are facing sanctions i... |
| 29.11.2024 | SC Orders Aakash To Not Amend Articles Of Association | SUMMARY
The SC has asked Aakash Educational Services to not give effect to the resolution proposed at its EGM to amend its AoA
A bench of CJI Sanjiv Khanna and Justice PV Sanjay Kumar asked Aakash to move the NCLAT and ordered a stay on the... |
| 26.11.2024 | Relief For BYJU’S: Karnataka HC Lifts NCLT Block On Aakash Stake Sale | SUMMARY
The Karnataka High Court today issued an interim stay on the NCLT order barring Aakash Educational Services from amending its AoA
The court ordered the interim stay observing that the Tribunal gave its order without assigning any re... |
| 22.11.2024 | Byju Raveendran Alleged To Have Asked US Ally To Flee Before Testimony | SUMMARY
Byju Raveendran allegedly asked Nebraska businessman William Hailer not to testify in a federal court about the former’s efforts to regain control of BYJU'S-owned edtech company Epic!
In his testimony before US Bankruptcy Judge John... |
| 20.11.2024 | BYJU’S Term Loan B Lenders Oppose EGM Of Aakash | SUMMARY
Glas Trust also questioned the “actions” of the resolution professional for allowing Byju Raveendran to continue as a representative of BYJU’S on Aakash’s board
The lenders also alleged that Aakash’s EGM seeks to remove all the righ... |
| 20.11.2024 | NCLT orders Aakash not to amend AoA amid Byju’s dilution row | Blackstone alleged that the embattled edtech was trying to reduce its stake to benefit Manipal Education, the largest shareholder in Aakash
The National Company Law Tribunal (NCLT) has blocked Aakash Educational Services from passing a reso... |
| 20.11.2024 | NCLT Stays Byju Raveendran’s Bid To Sell Aakash Stake | SUMMARY
NCLT has blocked Aakash from passing a resolution to amend its Articles of Association (AoA)
The move to make amendments in the AoA is said to have come as BYJU'S founder and CEO Byju Raveendran looked to sell a portion of his stake... |
| 18.11.2024 | BCCI Moves NCLT To Withdraw Insolvency Plea Against BYJU’S | SUMMARY
BCCI has moved an application before the National Company Law Tribunal (NCLT) to withdraw its insolvency petition against BYJU’S
The move was opposed by BYJU'S creditors Glas Trust and Aditya Birla Finance
From authorities to BYJU'S... |
| 18.11.2024 | Byju’s Insolvency: BCCI moves NCLT for settlement approval | The Board of Control for Cricket in India (BCCI) has approached the National Company Law Tribunal (NCLT) seeking approval to resolve a payment dispute worth ₹158 crore with edtech major Byju’s.
The move comes after the Supreme Court had squ... |
| 16.11.2024 | BYJU’S Insolvency: DGGI Looking To Recover INR 250 Cr GST | SUMMARY
The DGGI is seeking to recover INR 230 Cr to INR 250 Cr in taxes, which have been computed on certain supplies of the US-based subsidiaries to “Indian receivers”
The edtech startup allegedly kept these transactions “off its books” a... |
| 13.11.2024 | From Star to Struggler: Chegg's Fight to Survive Against ChatGPT Favoritism "Technology shifts have created headwinds for our industry and Chegg's business specifically. Recent advancements in th... | Online education company player Chegg is biting the bullet- after witnessing significant growth between 2010 and 2020- due to the emergence of artificial intelligence (AI) and generative AI. The company's stock plummeted 99 per cent since 2... |
| 23.10.2024 | Byju's payment dispute settlement with India cricket body set aside by top court | NEW DELHI : India's top court on Wednesday set aside an appeals tribunal order that allowed settlement of a payment dispute between the Indian cricket body and education technology company Byju's, handing a win to its U.S. lenders who had o... |
| 18.10.2024 | Основатель Byju's говорит, что его стартап, который когда-то стоил 22 миллиарда долларов, теперь «ничего не стоит»... | Байджу Равиндран, основатель некогда крупнейшего индийского edtech-стартапа Byju's, признал свои ошибки, выступая перед журналистами в четверг. По его словам, компания, которую ранее оценивали в 22 миллиарда долларов, теперь фактически не с... |
| 17.10.2024 | Byju Raveendran Blames Investors For Driving BYJU’S Valuation To Zero | SUMMARY
Byju Raveendran blamed BYJU’S investors for the company's downfall as the edtech giant's valuation now stands at zero.
He claimed that investors pushed for aggressive expansion but deserted the company when the market turned
Raveend... |
| 17.10.2024 | Byju Raveendran breaks silence, plans comeback amidst investor, debt crisis | Byju Raveendran, the founder of once the highest-valued edtech Byju’s, broke his silence in nearly two years amidst the company’s financial struggles. In his first public statement since the company’s downward spiral, Raveendran said he wou... |
| 17.10.2024 | Developing an E-Learning Software: Costs, Features and Advantages | Share
Tweet
Share
Share
Email
Do you want to build E-Learning software like Vedantu, Unacademy, BYJU’s, etc? If yes, then we’ve got you covered. In this article, you will learn about the cost, features and advantages of developing E-learnin... |
| 11.10.2024 | Startup funding drops 37% on year to $103 million this week | ETtech
Startups raised around $103.2 million between October 5 and October 11, marking a 36.7% decrease from the same period last year. However, this represents a 34.1% rise from last week’s total of $77 million.
Read More News on
Startup f... |
| 09.10.2024 | BYJU’S Accused Of Transfering Funds From US Units In Violation Of Bankruptcy Rules | SUMMARY
A lawsuit in the federal court of Delaware in the US has reportedly accused the edtech giant of transferring $700,000 from its US affiliates in violation of the bankruptcy proceedings
The US-based lenders have been fighting legal ba... |
| 05.10.2024 | Purplle-Backer Verlinvest To Double Its India Investments | SUMMARY
The VC firm claims to have invested over $110.3 Mn annually in India over the last few years and plans to focus on lifestyle and healthcare sectors going forward
Verlinvest Asia head also pointed out the challenges in Indian market,... |
| 02.10.2024 | Peak XV cuts largest fund by 16% as it slows growth-stage capital deployment
Recommended Stories For You | Peak XV Partners (formerly Sequoia Capital India) has cut the size of its largest fund by 16% as growth-stage funding to the startup ecosystem slowed down significantly over the past two years.
The VC firm, which raised $2.85 billion for it... |
| 01.10.2024 | After completing Pedagogy acquisition, Vedantu raises debt from Stride Ventures | The edtech unicorn Vedantu has raised debt and equity capital from Stride Ventures totaling Rs 19.25 crore, or $2.3 million. This is probably the first round of funding the Bengaluru-based company has received since its $100 million funding... |
| 26.09.2024 | BYJU’S Glas Trust Case: SC Asks IRP To Maintain Status Quo Until Judgement | SUMMARY
The apex court has instructed the IRP to maintain status quo until the court makes its judgement on the matter
The SC also flagged concerns about whether current laws allow for a settlement to bypass the established procedures
This ... |
| 24.09.2024 | Aakash laid-off employees amid strategic shift: Report | Aakash Educational Services Limited (AESL), owned by Byju, has let go of 80 to 100 workers in the last few months, according to people with knowledge of the situation.
“Aakash has fired anywhere between 80-100 employees, including senior an... |
| 24.09.2024 | Delaware Supreme Court ruling affirms BYJU's defaulted on Term Loan B | BYJU's US-based lenders on Tuesday said the Delaware Supreme Court affirmed the previous ruling by Delaware Court of Chancery's and said an event of default had occurred under the credit agreement and entitled BYJU's lenders and their admin... |
| 23.09.2024 | Aakash Chalks Out ‘2.0’ To Boost Operations, Build Hybrid Learning Centres | SUMMARY
Aakash Educational Services is chalking out a revamping strategy ‘Aakash 2.0’ aimed at scaling up its operations, bringing efficiency and building hybrid learning centres
On its association with Think & Learn’s BYJU’S, Aakash Ed... |
| 21.09.2024 | Byju Raveendran Borrows Funds To Make Small Payment To BYJU’S Teachers | SUMMARY
Raveendran told the teachers working with the edtech startup that he has managed to borrow some funds to make a "small payment by this weekend" to them
Raveendran also asserted confidence in winning the case that the compa... |
| 19.09.2024 | BYJU’S Insolvency: EY Quits As Advisor To IRP Pankaj Srivastava | SUMMARY
EY (Ernst and Young) Restructuring reportedly resigned from its role of advisor to the IRP during the first meeting of the CoC
This comes amid IRP Pankaj Srivastava getting dragged to courts by multiple creditors of BYJU’S
Glas Trus... |
| 17.09.2024 | Now, Glas Trust Drags BYJU’S Resolution Professional To Supreme Court | SUMMARY
Glas Trust has challenged its removal from BYJU’S committee of creditors. Besides, it is also seeking the removal of resolution professional Pankaj Srivastava
Glas Trust was removed from the CoC shortly after its first meeting on Se... |
| 11.09.2024 | Now, Aditya Birla Finance Accuses BYJU’S Resolution Professional Of ‘Fraud’ | SUMMARY
Aditya Birla Finance has moved the NCLT against BYJU'S interim resolution professional, accusing him of fraud
The financial services arm of the Aditya Birla Group alleged that even as BYJU'S owes the company INR 139 Cr, IRP Pankaj S... |
| 07.09.2024 | Byju's auditor BDO resigns after start of bankruptcy proceedings, company says | :Indian education technology company Byju's' auditor BDO Global has resigned after the startup did not provide documents requested following the start of insolvency proceedings, Byju's said on Saturday.
Byju's is fighting several battles in... |
| 07.09.2024 | BYJU’S Auditor MSKA Resigns Over ‘Financial’ & ‘Governance’ Concerns | SUMMARY
BDO’s exit comes just more than a year after Deloitte, the company’s previous auditor, stepped down citing problems with BYJU’S financial reporting
In its resignation letter, BDO highlighted several troubling issues, including delay... |
| 07.09.2024 | BYJU’S Insolvency Proceedings: TLB Lenders Make Claim For INR 11,432 Cr Dues | SUMMARY
The claim filed by Glas Trust accounts for nearly 88% of the total claims filed by the company’s creditors
The edtech major’s wholly owned subsidiary Aakash Educational Services has filed a claim of INR 1,404 Cr
So far, claims worth... |
| 06.09.2024 | BYJU’S Insolvency Case: SC Agrees To Early Hearing Of Glas Trust’s Plea | SUMMARY
The SC has agreed to an early hearing of Glas Trust's plea against the NCLAT's decision to stay insolvency proceedings against BYJU'S and approve its INR 158.9 Cr settlement with the BCCI
This comes days after the Bengaluru bench of... |
| 06.09.2024 | Amid Ongoing Insolvency Woes, Tax Authorities Seek $101 Mn In Statutory Dues From BYJU’S | SUMMARY
While the Ministry of Finance’s department of revenue has filed a claim worth $18.7 Mn, Karnataka tax authorities have sought dues worth $82.3 Mn
The Insolvency and Bankruptcy Board’s documents describe the outstanding amounts as &q... |
| 04.09.2024 | BYJU’S Insolvency: NCLT Postpones Decision On Glas Trust’s Plea Against CoC Meetings | SUMMARY
The NCLT refused to stay the meetings of the committee of creditors (CoC), citing a previous Supreme Court ruling that allowed the constitution of the CoC
The Tribunal asked Glas Trust, a consortium of US-based lenders of BYJU’S, to... |
| 01.09.2024 | Startup receives Rs 250 Cr investment from Yubi founder Gaurav Kumar | Gaurav Kumar, the CEO and founder of the fintech unicorn Yubi (formerly CredAvenue), has contributed Rs 250 crore ($30 million) in equity capital to his startup. This represents one of the biggest investments a founder has made in a tech co... |
| 31.08.2024 | Verlinvest Backs Blue Tokai with USD 35 Mn to Boost Presence in Metro and Tier I, II Cities The newly acquired funds will enable the brand to expand to over 350 locations within the next 30-36 months,... | Specialty coffee and bakery brand Blue Tokai announced that it has secured USD 35 million funding from Verlinvest. The Series C funding round also saw the participation of existing investors, Anicut Capital and A91 Partners.
This strategic ... |
| 28.08.2024 | Byju's Bankruptcy: A Cautionary Tale for the Ed-Tech Industry | The ed-tech landscape is shifting. Byju's, once a shining star, now faces the storm of insolvency. This situation sends ripples through the startup ecosystem, igniting fears among employees and investors alike. Once valued at $22 billion, B... |
| 24.08.2024 | SC Refuses To Halt Operations Of COC In Byju's Insolvency Case Section 12A of the Insolvency and Bankruptcy Code (IBC) allows for the withdrawal of an insolvency application if at least 90 per cent of... | The Supreme Court has declined to halt the operations of the Committee of Creditors (CoC) involved in the insolvency resolution process of the Ed-tech firm Byju's. The CoC represents the creditors of a company during bankruptcy or insolvenc... |
| 22.08.2024 | Indian ed-tech giant Byju's insolvency case fans employees' fears | Previous
FILE PHOTO: Byju's logo is seen in this illustration taken, June 22, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
File photo: BYJU'S owner Byju Raveendran photo is seen on his company web page in this illustration taken, July 1... |
| 20.08.2024 | SC denies Byju’s plea to hold formation of creditors’ committee | The Supreme Court has declined a plea by Byju’s to prevent the resolution professional of the firm from constituting a committee of creditors (CoC) till the top court decides on the case.
The apex court denied the interim relief sought by B... |
| 20.08.2024 | BYJU’S On The Verge Of A Turnaround, Investors Ready To Back The Company: Byju Raveendran | SUMMARY
In an email sent to BYJU’S employees, Raveendran said the company is on the brink of reversing the negative business cycle that began two years ago and ready to launch BYJU'S 3.0
The founder and CEO also claimed that the founders in... |
| 15.08.2024 | Byju’s Financial Turmoil: Supreme Court Intervenes in Settlement Saga | The edtech giant Byju’s finds itself in a storm. The Supreme Court of India has put a halt to a recent settlement between Byju’s and the Board of Control for Cricket in India (BCCI). This decision comes as a lifeline for creditors and a set... |
| 14.08.2024 | US lenders push Indian ed-tech giant Byju's towards insolvency | NEW DELHI :India's top court on Wednesday revived insolvency proceedings against education technology company Byju's following a lawsuit by a trust representing U.S. lenders who say they are owed $1 billion by the company.
The Supreme Court... |
| 14.08.2024 | Exclusive: BYJU’S To Shut Nearly 120 Tuition Centres | SUMMARY
BYJU’S has been sending notices for termination of lease contracts for its tuition centres, and this move is likely to result in it shutting 120 centres
In the termination notice, accessed by Inc42, BYJU’S parent Think & Learn a... |
| 14.08.2024 | SC stays NCLAT verdict allowing settlement of dues between Byju’s and BCCI | The Supreme Court on Wednesday stayed the operation of a National Company Law Appellate Tribunal (NCLAT) decision which had allowed the debt-ridden edtech Byju’s to pay a settlement amount of ₹158 crore to the Board of Control for Cricket i... |
| 14.08.2024 | SC Revives Insolvency Plea Against BYJU’S | SUMMARY
The SC bench quashed the NCLAT order that approved the settlement of the INR 158.9 Cr unpaid dues BYJU'S owed to the BCCI
The order came as a result of Glas Trust Company, a consortium of the startup’s aggrieved US-based lenders, mo... |
| 14.08.2024 | Supreme Court stays NCLAT order approving Byju’s settlement with BCCI | In yet another setback for embattled edtech major Byju’s, the Supreme Court has stayed the National Company Law Appellate Tribunal’s (NCLAT) order, which approved the settlement between edtech firm Byju’s and the Board of Control for Cricke... |
| 08.08.2024 | India's Byju's says US court's rejection to lenders a 'win' | BENGALURU : India's Byju's said on Thursday that a U.S. court has shunned its lenders' attempts to block its settlement with the Indian cricket board, calling it a "win" for its "turnaround efforts" in the country where ... |
| 07.08.2024 | Byju’s fiasco: US-based Glas Trust to move SC against NCLAT order | Glas Trust, a US-based loan agency is set to challenge in the Supreme Court the National Company Law Appellate Tribunal (NCLAT) order of settlement between the Board of Control for Cricket in India (BCCI) and edtech firm Byju’s, said source... |
| 05.08.2024 | MCA’s BYJU’S Probe Likely To Focus On Flow And Use Of SPV Funds | SUMMARY
The Ministry of Corporate Affairs will investigate the flow and use of funds in BYJU'S Alpha, the US unit of the edtech startup.
The decision follows a Registrar of Companies (ROC) report highlighting financial irregularities, leadi... |
| 02.08.2024 | India tribunal orders halt on Byju's insolvency proceedings | NEW DELHI : India's appeals tribunal on Friday ordered a halt on insolvency proceedings against embattled education startup Byju's, days after the startup settled a $19 million payments dispute case with the country's cricket board.
The ord... |
| 02.08.2024 | Relief For BYJU’S As NCLAT Allows Settlement With BCCI; Sets Aside Insolvency Proceedings | SUMMARY
The appellate tribunal dissolved the insolvency resolutions process admitted by the National Company Law Tribunal (NCLT) earlier in July
The NCLAT accepted the settlement arrived between Raveendran and the Board of Control for Crick... |
| 02.08.2024 | Byju Raveendran back in control of Byju's as NCLAT accepts BCCI settlement | Byju's back with Raveendran as NCLAT accepts settlement
The National Company Law Appellate Tribunal (NCLAT) on August 2 accepted the settlement arrived between Byju Raveendran and Board of Control for Cricket in India (BCCI), thus removing ... |
| 31.07.2024 | After US-Based Lenders’ Claims, NCLAT Postpones Decision On BYJU’S-BCCI Settlement | SUMMARY
The US lenders requested the tribunal not to accept the settlement, calling it a “tainted settlement”. They also alleged that the settlement amount is from “stolen money”
As a result, NCLAT has asked the founder Byju Raveendran to e... |
| 30.07.2024 | BYJU’S Courtroom Drama: Karnataka HC Disposes Of Byju Raveendran’s Plea | SUMMARY
The Karnataka HC disposed BYJU’S founder Byju Raveendran plea challenging NCLT’s admission of BCCI's insolvency plea
The Judge hearing the plea reasoned that NCLAT is already hearing the matter
The NCLAT is set to hear the matter to... |
| 30.07.2024 | Indian startup Byju's nears settlement in cricket board dispute, sources say | NEW DELHI : Education technology company Byju's is close to settling a $19 million payments dispute with the Indian cricket board, which could free the business from an insolvency process that has frozen the assets of what was once India's ... |
| 30.07.2024 | BYJU’S Pays First Tranche Of INR 50 Cr To BCCI As It Looks To Settle Insolvency Case | SUMMARY
The edtech major made the payment to the cricket board on the evening of July 30
Earlier in the day, BYJU’S lawyer Arun Kathpalia told the NCLAT that the company had “almost resolved” a dispute over unpaid fees to the BCCI
Earlier t... |
| 25.07.2024 | Incuspaze's $8 Million Leap: A New Era for Flexible Workspaces in India**
** | ** In the bustling landscape of India's flexible workspace market, Incuspaze has made a significant splash. The company recently secured $8 million in its first funding round, led by the India Inflection Opportunity Fund (IIOF) and other fi... |
| 25.07.2024 | The Rise and Fall of Byju's: A Cautionary Tale in Ed-Tech**
** | ** Byju Raveendran was once the golden boy of India's startup scene. He transformed a simple teaching passion into a billion-dollar ed-tech empire. Byju's, his brainchild, soared to a staggering valuation of $22 billion. But like a house of... |
| 25.07.2024 | BYJU’S Insolvency: Byju Raveendran Files Fresh Plea In Karnataka HC Against NCLT Order | SUMMARY
BYJU'S founder Byju Raveendran has requested the HC to suspend the NCLT order until the NCLAT takes up BYJU’S appeal against the former’s order
Earlier this month, the Bengaluru bench of the NCLT admitted the BCCI’s insolvency plea ... |
| 24.07.2024 | Co-working startup Incuspaze raised $8 M maiden funding from IIFO, others | In its first fundraising round, workspace solution provider Incuspaze raised about $8 million, with the India Inflection Opportunity Fund (IIOF) and other financial institutions leading the charge.
According to a statement from the business... |
| 22.07.2024 | Incuspaze Secures USD 8 Mn in Maiden Funding to Expand Workspace Solutions The raised capital will beef up Incuspaze's capabilities to provide top-tier workspace solutions to enterprises, MSMEs, and s... | Workspace solution provider Incuspaze has announced the raising of approximately USD 8 million in its maiden funding round, led by the India Inflection Opportunity Fund (IIOF) and other financial institutions.
"This investment will sig... |
| 22.07.2024 | India ed-tech firm Byju's founder faces reckoning as startup implodes | Previous
FILE PHOTO: Byju's owner Byju Raveendran photo is seen on his company web page in this illustration taken, July 17, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: BYJU'S owner Byju Raveendran photo is seen on his comp... |
| 20.07.2024 | Karnataka HC Rejects BYJU’S Plea In BCCI Case | SUMMARY
The edtech firm plans to approach the National Company Law Appellate Tribunal (NCLAT) again on Monday
Earlier, it was reported that the NCLT had admitted BYJU’S parent company, Think and Learn Pvt Ltd, into insolvency due to unpaid ... |
| 19.07.2024 | Indian ed-tech giant Byju's faces total shutdown if insolvency proceeds, CEO says | NEW DELHI : Insolvency proceedings against ed-tech giant Byju's, once India's biggest startup valued at $22 billion, will likely force thousands of employees to quit and result in a total shutdown of its services, its CEO said in a court fi... |
| 19.07.2024 | Insolvency Proceedings Will Force Thousands Of Employees To Quit: BYJU’S CEO | SUMMARY
In a plea before the Karnataka HC, CEO Byju Raveendran said that the insolvency proceedings will likely cause vendors, who “provide critical services” for the upkeep of the startup’s online platforms, to declare a default
Raveendran... |
| 19.07.2024 | [Weekly funding roundup July 13-19] VC inflows continue to show modest rise
Recommended Stories For You | The month of July continues to remain subdued for the Indian startup ecosystem as venture capital funding on a weekly basis remains modest with small upticks and no visible upward movements.
The total funding for the third week of July stoo... |
| 17.07.2024 | As NCLT acknowledges insolvency resolution, creditors may seize control of Byju’s | The Indian Cricket Board has filed a plea, forcing Byju’s—once the most valuable Indian startup—to go through the insolvency resolution process at the National Company Law Tribunal (NCLT).
In accordance with section 9 of the Insolvency and ... |
| 15.07.2024 | Deepinder Goyal’s stake in Zomato surpasses $1 B; joins billionaire club | Zomato’s founder and CEO, Deepinder Goyal, became a billionaire when the value of his shares in the foodtech company topped Rs 8,400 crore.
With this, Goyal becomes the latest in a line of businessmen who have achieved a comparable peak in ... |
| 06.07.2024 | Karnataka HC Restricts BYJU’S From Making Allotment Of Shares, Asks To Maintain Status Quo | SUMMARY
The court ordered that the status quo be maintained until the NCLT makes a final decision on the rights issue dispute
The court also directed the NCLT to decide on the rights issue aspect expeditiously, by July 31
The rights issue h... |
| 05.07.2024 | Former Employees Ask BYJU’S To Pay INR 2.3 Cr Salary Dues Or Face Insolvency Proceedings | SUMMARY
Bengaluru-based law firm Canvas Legal has issued the demand notice of over INR 2.3 Cr on behalf of 62 former employees of BYJU’S
BYJU’S has been given 10 days time as per the Insolvency And Bankruptcy Code. If it fails to respond, t... |
| 04.07.2024 | NCLT tells Byju’s to pay salary dues to employees or face audit | The National Company Law Tribunal (NCLT) has directed the embattled edtech major Byju’s to pay salaries irrespective of having access to the funds raised through its rights issue and warned of an audit if employees were not paid.
The tribun... |
| 04.07.2024 | NCLT’s Ultimatum To BYJU’S: Pay Employee Salaries Or Face Audit | SUMMARY
During its July 4 hearing, the tribunal told the troubled startup to pay employees irrespective of getting an access to funds raised via its rights issue
The tribunal also warned the company of an audit by the Institute of Chartered... |
| 03.07.2024 | BYJU’S Seeks More Time From NCLT To Decide On Pledging Or Selling Assets | SUMMARY
BYJU'S has requested for 48 hours from the National Company Law Tribunal to decide whether it should undertake not to pledge, sell or transfer its assets amid a dispute with investors
This comes a day after the Karnataka HC set asid... |
| 02.07.2024 | Karnataka Labour Minister Asks BYJU’S To Resolve Dues Of Former Staff | SUMMARY
BYJU's reportedly owes its former employees about INR 4.5 Cr in unsettled dues
The edtech company has reportedly pledged to clear all dues owed to former employees within a month of receiving a relief order from the NCLT
This comes ... |
| 02.07.2024 | Karnataka HC Sets Aside NCLT’s Stay On BYJU’S Second Rights Issue | SUMMARY
Hearing BYJU’S petition against the NCLT’s order, the Karnataka HC sent the matter back to the Tribunal for a fresh consideration
Last month, the NCLT restrained BYJU’S from proceeding ahead with its second rights issue
BYJU’S inves... |
| 26.06.2024 | Индийские стартапы привлекли $3,9 млрд с начала года | - |
| 26.06.2024 | MCA Refutes Reports Of It Clearing BYJU’S Of Fraud, Says Probe Ongoing | SUMMARY
Terming the report “factually incorrect and misleading”, the MCA said no final conclusion should be drawn on the matter at this stage
The clarification came hours after a news report said that the MCA did not find any evidence of an... |
| 25.06.2024 | India: Prosus writes off Byju's investment, records $493m loss | Netherlands-based technology investor Prosus has written off the value of its 9.6% stake in Byju’s, once considered one of the most valued startups in India. |
| 17.06.2024 | SoftBank’s Masayoshi Son set for ‘next big move’: report | Artificial IntelligenceInvestmentsNews
Lokesh Choudhary · 2d ago · 2 min readSoftBank’s Masayoshi Son set for ‘next big move’: report
Photo credit: Shutterstock
SoftBank founder Masayoshi Son appears to be ready for his next big moves, Bloo... |
| 13.06.2024 | BYJU’S Rights Issue: NCLT Asks Edtech Giant To Maintain Status Quo On Shareholding | SUMMARY
The NCLT directed embattled edtech giant BYJU’S to maintain status quo with regard to existing shareholders and their shareholding
The bench was hearing a plea filed by General Atlantic Singapore and Sofina S.A. against the edtech g... |
| 12.06.2024 | Private Credit Industry Experiences Surge in Investor Demand Amidst Growing Complexity | The private credit industry is currently experiencing a significant surge in investor demand, with Briarcliffe Credit Partners at the forefront of this exciting trend. The recent appointment of Nelson Chikusa as Executive Director to lead f... |
| 12.06.2024 | Vitruvian Partners Ropes In Kedaara Capital MD Kartikeya Kaji As India Head | SUMMARY
Kaji is said to have been appointed to speed up Vitruvian Partners’ expansion in India
He has previously worked for PE giants such as Clayton Dubilier & Rice and Temasek Holdings, among others
Vitruvian’s India portfolio include... |
| 11.06.2024 | Edtech Funding Has Not Hit Bottom | 8 Shares Email Facebook Twitter LinkedIn
Education is not a hot area for venture investors lately.
So far in 2024, startups in the space have pulled in just over $1 billion in total funding, 1 per Crunchbase data. Consequently, investment i... |
| 07.06.2024 | NCLAT Dismisses Appeal Petition Of Investors Against BYJU’S, Ball Now In NCLT’s Court | SUMMARY
The NCLAT dismissed the plea as investors of BYJU’S had already filed a contempt petition against the edtech major for the violations
The appeal by investors was filed against the NCLT’s April 23 order, in which the Tribunal decline... |
| 06.06.2024 | HSBC pegs Byju’s valuation to zero from $22b high | ManagementNews
Gabriel Budi Sutrisno · 4h ago · 2 min readHSBC pegs Byju’s valuation to zero from $22b high
Byju’s co-founder Byju Raveendran / Photo credit: Byju’s
Once at US$22 billion, HSBC has pegged the valuation of Indian edtech firm ... |
| 05.06.2024 | BYJU’S Term Loan B Saga: Now, Lenders Initiate Bankruptcy Proceedings Against Epic!, Other Guarantors | SUMMARY
The ad hoc group of lenders for Term Loan B have filed petitions under Chapter 11 of the US Bankruptcy Code to initiate proceedings against Epic!, Neuron Fuel, and Tangible Play
The ad hoc group of lenders again alleged that BYJU’S ... |
| 05.06.2024 | A realm full of opportunity and test Among the countries considered to be hotbeds for startups, India consistently makes the top ten; much of it has to do with the policy-making and cultural shifts th... | - |
| 31.05.2024 | Byju’s US affiliates slapped with involuntary bankruptcy cases from creditors | News
Elyssa Lopez · 17h ago · 2 min readByju’s US affiliates slapped with involuntary bankruptcy cases from creditors
A group of creditors led by US-based HPS Investment Partners has filed involuntary Chapter 11 bankruptcy cases against thr... |
| 29.05.2024 | US lenders urge NCLT to restrain Byju’s from alienating shares | Embattled edtech major Byju’s US lenders have urged the National Company Law Tribunal (NCLT) to restrain the company from pledging, selling or transferring its shares.
The US-based non-bank loan agency Glas Trust Company LLC have filed an i... |
| 29.05.2024 | TLB Lenders Urge NCLT To Restrain BYJU’S From Selling Shares | SUMMARY
The creditors argued that BYJU’S was borrowing more money and alienating its shares in exchange, “causing grave prejudice” to the creditors
Citing 10 insolvency petitions against BYJU’S before NCLT and its financial condition, the l... |
| 28.05.2024 | Relief For BYJU’S: K’taka HC Extends Stay On Resolutions Passed At EGM | SUMMARY
The Karnataka High Court extended the stay on the implementation of the resolutions passed by BYJU’s investors at the company’s EGM
This means that Raveendran will continue to helm of the troubled startup
The court’s decision today ... |
| 23.05.2024 | EdTech Crisis: Rise And Downfall of Byju's The downfall for the company started when it failed to release results for FY2022 and later they were released after 18 months. The company is yet to declare... | - |
