Byju Raveendran clarified his move to Dubai was for his father's treatment, not to escape.  He expressed commitment to revive Byju's and is willing to repay lenders if they cooperate.  Byju's fac...

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- **Byju Raveendran** clarified his move to **Dubai** was for his father's treatment, not to escape.
- He expressed commitment to **revive Byju's** and is willing to repay lenders if they cooperate.
- Byju's faces **insolvency proceedings** in India and the US over $1 billion in unpaid loans.
- The company settled a ₹158.9 crore dispute with **BCCI**, but US lenders challenged this.
- Raveendran remains optimistic, needing just a **1% chance** to make things work.

Source: [Times Now News](https://www.timesnownews.com/business-economy/companies/ready-to-pay-if-byju-raveendran-says-will-find-a-way-out-amid-insolvency-crisis-article-114343394), [Hindustan Times](https://www.hindustantimes.com/business/i-did-not-run-away-says-byju-raveendran-on-his-move-to-dubai-report-101729232187030.html)

Byju Raveendran Addresses Dubai Move, Vows Revival

Journalist

Byju Raveendran Addresses Dubai Move, Vows Revival- Grapevine

Welcome to Indian Startups's Private Community

With ED issuing lookout notice for the founder, is this how Byju's will go down?? Things have not been looking up for the decacorn startup since last year, but with rights issue being fully subscribed, there was hope that things might take a turn for the better.

With EGM this Friday to ouster the CEO and his family from board and ED lookout notice just prior to it, is this the end of the road for the maverick founder??

End of road for Byju Raveendran

Product Manager

- 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/)

BYJU'S On The Verge Of A Turnaround, Investors Ready To Back The Company: Byju Raveendran

The Morning Vine 🍇

Some investors want Byju Raveendran out of the company, yes, but others want to give him more money!

Investors want to both give and not give Byju's more money

A fun read on the Byju's situation

- The National Company Law Tribunal (NCLT) in Bengaluru has admitted BCCI's petition for insolvency proceedings against Byju's over unpaid dues of Rs 158 crore.
- Byju's had a sponsorship contract with BCCI for the Indian cricket team, and the petition was filed last year against its parent company, Think & Learn Pvt Ltd.
- The matter is set for further hearing on November 15, with Byju's previously stating it was in talks with BCCI to settle the issue.
- Tech investor Prosus wrote off its 9.6% stake in Byju's during the financial year 2024, citing a significant decrease in value for equity investors.
- A year-long probe by the Ministry of Corporate Affairs found lapses in corporate governance at Byju's but cleared it of financial fraud, attributing mounting losses to weak governance and compliance practices. 

 Source: Business Today, Moneycontrol

NCLT Admits BCCI Petition for Insolvency Proceedings Against Byju's

https://www.ndtv.com/business-news/byjus-faces-total-shutdown-if-insolvency-proceeds-says-ceo-byju-raveendran-6141875

Byju’s on the verge of shutdown

Chartered Accountant

- 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

Byju Raveendran Back in Control of Byju's as NCLAT Accepts BCCI Settlement

Heard from a friend that Byju’s has filed for bankruptcy. Can someone from Byju’s confirm this?

Byju’s files for bankrupcy?

Product Designer

So after dodging many bullets Byju's finally goes to Insolvency Trial. 

Does anyone have any news of what's happening inside the company?

Byju's & Insolvency ❌

Program Manager

https://thearcweb.com/article/byju-raveendran-1-billion-agm-8SWZHKi0REGjA6g4

Byju’s has faced consolidated losses of nearly Rs 8,300 crore ($1 billion) in FY22... Reminds me of "जितने का बबुआ नहीं उतने का झुनझुना"

Software Engineer

News: Byjus appoints Upgrad's ex-CEO Arjun Mohan as it's new CEO

So will the company also be renamed to Mohan's?

Engineering Manager

Byjus has announced no further layoffs, promised the payment of incentives and increments after their employees threatened to go on strike. Huge for the Aam worker, collective bargaining in 2023 in the startup scene.

https://flip.it/bNe-Oq Byju's Averts Workers' Strike; Rules Out More Layoffs At Tuition Centres

BJYU’s employees won their rights by threatening to go on strike

Who's on the board of byjus. Why haven't they fired the shit out of him?

Founder’s Office

- I have managed to borrow some funds and assured teachers of a small payment by the weekend.
- Acknowledged long-standing salary delays and apologized for the financial strain on staff.
- Despite partial payments for April and May, full payments for previous months remain pending.
- Legal battles with US-based lenders complicate the financial situation further.
- Urged teachers to remain resilient and promised more substantial payments once financial control is regained. 

 Source: [Moneycontrol](https://www.moneycontrol.com/technology/i-have-managed-to-borrow-funds-byju-raveendran-assures-small-payment-to-teachers-amid-financial-crisis-article-12826866.html)

Byju Raveendran Borrows Funds Amid Financial Crisis, Assures Small Payment to Teachers

Earlier used to see a lot of stuff Byju's on GV. Seems like either everyone has left, or they've asked employees to not say anything

Any Byju's employees still around? What's happening there?

Growth Manager

Feedback letter from employee to Founders, CEO & CTO

Heartwarming message from ex-Byjus employee to founders.

For details just reply to this email. I will email an excel sheet of all of your failures 
 😂Lmao, that was🔥

Byju Raveendran Addresses Dubai Move, Vows Revival

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