![Foreign creditors move U.S. bankruptcy court against 3 entities linked to BYJU’s](https://images.assettype.com/fortuneindia%2F2024-01%2F3e5928fe-4fd0-4030-af38-b2da946475b3%2FGettyImages_1662922588.jpg?w=300&q=95)
Foreign creditors move U.S. bankruptcy court against 3 entities linked to BYJU’s
The bankruptcy plea filed for allegedly siphoning off funds from three units linked to Alpha, BYJU's U.S. subsidiary
The bankruptcy plea filed for allegedly siphoning off funds from three units linked to Alpha, BYJU's U.S. subsidiary
Think & Learn says the two have "mutually" decided not to renew the contractual agreement. They had joined BYJU’s Advisory Council in July 2023
Notwithstanding approval from shareholders, the tribunal court’s earlier order had asked BYJU’s not to use funds; next hearing on April 23
BYJU'S also initiates consolidation of its businesses into three focused divisions - The Learning App, online classes & tuition centres, and test-prep
Crisis-hit BYJU’s ropes in Mehrotra to deliver its “aggressive growth plan”
Once the poster boy of the Indian startup scene, Raveendran has been caught up in controversies over foreign funding, fund crunch, layoffs and legal tangles with investors
BYJU’s terms layoff exercise as "business restructuring", which is being done to reduce cost base and simplify operating structures
BYJU's says these investors obtained court order that restricted use of funds raised through rights issue; assures employees could receive salaries by April 8
According to reports, several attendees also received an unidentified notification stating that the EGM had been cancelled.
BYJU’s scores small victory as Karnataka HC grants it relief, stating that any resolutions proposed to be passed in Feb 23 EGM will be "invalid" until disposition of its petition