BYJU'S

- BYJU'S founder and CEO Byju Raveendran claims the company is on the brink of reversing its negative business cycle and launching BYJU'S 3.0, an AI-driven educational platform. - Raveendran stated that the founders have infused approximately INR 7,500 Cr into the company over the past 29 months to meet operational needs. - The company has failed to clear July 2024 salaries, with Raveendran blaming lenders and promising prompt payment once control is regained. - Despite financial challenges, BYJU'S remains the largest edtech platform globally with 150 Mn monthly users, transitioning to a sustainable business model. - Raveendran addressed ongoing legal battles with US-based lenders and denied any personal investigation by the Directorate of Enforcement. Source: [Inc42](https://inc42.com/buzz/byjus-on-the-verge-of-a-turnaround-investors-ready-to-back-the-company-byju-raveendran/)

Ola is launching and getting into multiple businesses, feels like they are trying to do everything. Thoughts?

- The National Company Law Appellate Tribunal (NCLAT) accepted the settlement between Byju Raveendran and the Board of Control for Cricket in India (BCCI) on August 2. - This decision removes Byju's parent company, Think and Learn, from the insolvency resolution process. - NCLAT noted that the settlement was reached before the Committee of Creditors (CoC) could be constituted and that the source of the settlement money was not in dispute. - The tribunal approved the settlement based on the undertaking and affidavit filed, with a caveat that the insolvency order will be revived if the undertaking is breached. - Control of the company will return to Byju Raveendran as the NCLAT suspended the National Company Law Tribunal (NCLT) order that admitted the company to insolvency resolution. Source: Moneycontrol

Mukesh Ambani and Reliance are planning to buy out BYJU'S liabilities in the Bankruptcy process at throw away valuations. Since existing investors have lost interest in the company, now their say won't matter. The highest bidder will be able to buy out BYJU'S. Great opportunity for Ambani's, Tata's and Adani's of the worst. The infra, IP and tech that BYJU'S has is easily worth more than a Billion dollars cakewalk. This is way lesser than their liabilities. Looks like the employees and ex employees are after all safe.

NCLT has frozen Byju's bank accounts. A big blow not to Byju's, but to those waiting for salaries and payouts. This process usually takes petitions in court to resolve and isn't straightforward. https://timesofindia.indiatimes.com/business/india-business/fresh-trouble-for-byjus-as-nclt-blocks-rights-issue/articleshow/110979870.cms

I hear tales about how at their peak, BYJU's used to deal with investors. They would not share financials. If you wanted to invest, they'd ask you to come down to office, and only for that time, see whatever you want to see. Investors obliged. It was the shining star of Edtech India, nobody wanted to miss out. Now those same investors are ousting the founder, fair enough. But I hope enough people look back and realize they created the problem. They allowed it to exist.

I mean sabko toh layoff kar diya. Bache huo na resigne nahi kiya?

India CEO Arjun Mohan has kicked off a massive restructuring exercise that may lead to 4,000-5,000 job cuts