Byju's, the edtech giant, is facing a crisis as its workforce has decreased from 50,000 to under 30,000, with employees experiencing unpaid dues and emotional turmoil. Legal action is being pursued through NCLT. Byju Raveendran and his brother are under scrutiny in the US for the missing $533 million loan proceeds, with fines and contempt of court rulings imposed.
NCLT issues notices to @BYJUS parent company over non-payment of dues. #edtech @TNIEBiz @Dipak_Journo
US bankruptcy court imposes penalty on Byju’s director, says testimony ‘not truthful’ https://t.co/ElOGnmU9yd
🚨 The National Company Law Tribunal (NCLT) has issued notices to @BYJUS in three cases over the non-payment of dues to operational creditors. @MansiVjourno brings details 👇 https://t.co/U3FAyexSMg #Byjus #Startups #Edtech
US bankruptcy court imposes penalty on Byju’s director, says testimony ‘not truthful’ @aggam_walia reports https://t.co/F0Kzk3J8ia
Byju's Manager 'Not Truthful' on Missing $533 Million, Says US Judge https://t.co/Nl3eeSkwLr
#US #court judge pulls up #ByjuRavindran's #brother for not being 'truthful' on the missing $533 mn that lenders are after https://t.co/e7nG4bL40t
🚨 Byju's $1.2 bn saga: A US judge ruled that board member Riju Ravindran is in contempt of court for repeatedly refusing to disclose the location of the $533 mn in term loan proceeds. Riju is the founder’s brother and was on the board of the US-based entity Byju’s Alpha, which…
🚨BYJUS lender group says that a US bankruptcy court has imposed fine on Byju Raveendran and observed that his testimony is not truthful in case of $533 mn loan proceeds . “ Mr. Ravindran’s defense is basically ‘I asked but no one either knows, or would tell me where the money… https://t.co/bjgbnuFJMo
Valuations, board exits and down rounds don't capture what this story does. The human cost of the Byju's flameout. Brilliant reporting from @MansiVjourno based on conversations with past and present employees https://t.co/MO8Js7oJEs https://t.co/kYnatVSXQT
#Byju's workforce dwindles from 50,000 to under 30,000, grappling with unpaid dues and emotional turmoil. Amidst this crisis, employees are gearing up to take legal action by approaching #NCLT. Read more insights on #ByjusCrisis 👇 https://t.co/p6ge66cm0q @MansiVjourno |…