byju's

"There's a lot being said about Unacademy at the moment," Munjal wrote in a post on X.He further said that the edtech firm has had its best years in terms of growth and profitability and has many years to run the company."To set a record, this will be Unacademy's best year ever in terms of...

“There have been reports claiming that edtech startup Byju’s has been acquitted of financial fraud in the ongoing investigation by the Ministry of Corporate Affairs (MCA). It is categorically clarified that such reports are factually incorrect and misleading,” the ministry said."The...

New Delhi: The Corporate Affairs Ministry on Wednesday said the proceedings initiated against edtech company BYJU'S under the Companies Act are "still ongoing" and a final conclusion cannot be drawn in the case at this stage.Last year, the ministry had ordered an inspection of BYJU'S books in...

However, the company suffered failures in its corporate governance structure, the government added.The investigation by the Ministry of Corporate Affairs (MCA) concluded that the allegations of account manipulation and siphoning of funds against Byju's "are unsustainable" and as such, referral...

In New Delhi, Dutch investment firm Prosus has written off $578 million (around Rs 4,800 crore) it invested in edtech startup Byju's, the company said on Monday.As of September 2022, Prosus had lost significant influence in Think and Learn, which owns the Byju's brand, as its stake in the...

New Delhi, Dutch investment firm Prosus has written off US$578 million (about Rs 4,800 crore) it invested in edtech firm Byju's, the company said on Monday.In September 2022, Prosus lost significant influence over Think & Learn, which owns the Byju's brand, as its stake in the edtech firm...

The second rights issue began on 13 May and was expected to close on 13 June.The edtech company has been barred by NCLT from using any funds from the second rights issue.According to sources, the company's new petition is likely to be heard in the Karnataka High Court on Monday.Byju's is...

New Delhi: The National Company Law Tribunal (NCLT) has barred edtech firm and Byju's brand parent Think & Learn from proceeding with the rights issue that started on May 11, effectively halting the process to maintain the status quo.The Bengaluru bench of NCLT, in an order dated June 12, also...

HSBC has given zero value to investment company Prosus's approximately 10 per cent stake (or about $500 million) in Byju's."We value Byju's stake at zero amid multiple legal matters and funding crisis," HSBC notes.“Earlier, we had valued the stake in Byju at approximately 10 per cent by...

The group of lenders that gave a $1.4 billion term-loan to Byju's Alpha filed a petition against Neuron Fuel Inc., Epic! Creations Inc. and Tangible Play Inc. has been asked to initiate involuntary proceedings against them in a Delaware court under Chapter 11 of the US Bankruptcy Code.The...

New Delhi, Edtech firm BYJU'S has processed the May salaries of employees from the business collections of the month, sources close to the company said on Monday.Last year, the founders of the edtech firm had to mortgage their house to raise a loan to pay staff salaries.A source said, "The...

Sources close to the development told IANS that May salaries for employees have been processed and "will be credited today".He said this time the salaries have been paid from the company's "collections".The ability to cover salary expenses from monthly collections "underscores the positive...

Amid the ongoing legal battle with investors and vendors, the company is yet to pay the remaining salaries of February and March to thousands of its employees.Jinni Thattil, Byju's Chief Technology Officer, sent an email to her team saying that February and March dues for active employees will...

New Delhi: Edtech firm Think & Learn, owner of the BYJU'S brand, on Tuesday said it has started new batches for the 2024-25 academic session with 240 reduced fees across 26 BYJU'S tuition centres.A company spokesperson said batches at the remaining 22 centers would start rolling out in the...

BYJU'S tuition centers provide classroom-based programs for K-12 students.The company said it has reduced the annual fee to Rs 36,000 for the current academic year.The edtech company said it has also seen interest in the role of teachers, receiving around 1,200 applications per day in the...

New Delhi: Edtech firm Think & Learn – owner of the Byju's brand – has cut course subscription fees by 30-40 per cent and increased sales incentives by 50-10 per cent, according to sources.Byju's founder and CEO Byju Raveendran, who has started taking over the company's daily operations...

New Delhi: Claims raised by vendors against embattled Byju's before the National Company Law Tribunal (NCLT) have reached Rs 190 crore, with handset maker Oppo filing a fresh claim of Rs 1 crore, according to sources.The crisis-hit company's rising claims come at a time when it has not been...

According to sources, the edtech firm managed to pay the full amount to employees on Friday after two months of partial payment.Byju is yet to pay the remaining part of the salary for February and March.Salaries were first delayed for both the months, with employees being given only a part...

The new company policy is currently in effect for sales teams, including Inside Sales and Byju's Exam Preparation (BEP) teams, an intern said, according to a company document.Byju's did not immediately comment on the new policy.Applicable for a period of four weeks till May 21, the new...

New Delhi: The injunction on the use of rights issue funds by Byju's will continue as a Bengaluru company law court has adjourned the case till June after hearing the investors as well as the management.In its order earlier this year, the National Company Law Tribunal (NCLT) Bengaluru bench...