Byju's News

On March 27, the NCLT had directed all parties to maintain the status quo regarding Aakash’s shareholding until the next hearing.

They had challenged the order passed by the Bengaluru bench of the National Company Law Tribunal (NCLT), 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 $1.2 billion, is a member.

The whistleblower also pointed out that a valid settlement was intentionally sabotaged to ensure BYJU’s remained in insolvency.

A bench of Chief Justice D Y Chandrachud, and Justices J B Pardiwala and Manoj Misra also reversed the order of the NCLAT approving Byju's Rs 158.9 crore dues settlement with the Board of Control for Cricket in India (BCCI) and directed the cricket board to deposit the settlement amount of Rs 158.9 crore with a committee of creditors.

The Edtech firm is currently facing multiple challenges, including insolvency proceedings and a 1 billion dollar claim from US-based Glas Trust. 

Lenders have demanded the return of 533 million dollars after Byju’s defaulted on its obligations. 

The BCCI on Tuesday told the NCLAT that it is starting settlement discussions with Byju Raveendran to resolve its dispute with Think and Learn Private Limited.

Last month, the NCLT directed Byju's to keep funds received from the rights issue in an escrow account till the disposal of the case.

Byju's has given up office spaces as the leases expired, keeping only its Bengaluru-based headquarters at IBC, Knowledge Park, people close to the development told news agency IANS on Monday.

Tonight's edition of DNA dives into the factors contributing to BYJU's downfall, it underscores the need for accountability and transparency in corporate governance.

The company had earlier listed February 1 for the January salary pay-out for its employees, which has now been delayed and there is no communication, according to sources.

A Bloomberg report has said that Byju Raveendran has taken the personal loan of about Rs 100 crore against his home to pay the salary.

In a statement to IANS, the company “unequivocally denied” media reports that it was going to receive any ED notice. “The company has not received any such communication from the Enforcement Directorate,” a company spokesperson said.

Founded by Anil Nagar and Saurabh Bansal in 2016, Adda247 caters to the learning needs of millions of students from tier 2 and 3 cities. Meanwhile, edtech major Byju's has announced to lay off 4,000-5,000 employees in a “business restructuring exercise”. 

In a statement, the company said it will convene a board meeting in the second week of October "for approval and adoption of accounts for FY22". 

The job cuts are being implemented only at Byju's parent, Think & Learn (THIK.NS), and are not linked to any of its subsidiaries, the report said, adding that a significant number of roles to be made redundant would constitute senior positions at the firm.

Agarwal had joined Byju's in February 2022 from Zee Entertainment Enterprises (ZEE.NS). Two other business heads - Himanshu Bajaj and Mukut Deepak - have also left, the company, once India's most valuable startup, said.

Akansha said she was devastated when she was abruptly informed that she must resign by July 28 or face the consequences of not receiving her salary on August 1. 

According to a remark from Byju Raveendran in the Economic Times, "things are not as bad as you think - as you read in the media, for sure." He added that the startup is now more effective than it was six months ago.