I have managed to borrow some funds and assured teachers of a small payment by the weekend.  Acknowledged longstanding salary delays and apologized for the financial strain on staff.  Despite parti...

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- 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

Journalist

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

Welcome to Indian Startups's Private Community

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

Welcome to Office Gossip's Private Community

What is even happening there? As per newspaper article from today

https://www.thehindubusinessline.com/companies/byjus-hasnt-paid-pf-money-for-months-show-epfo-data/article67008329.ece/amp/

Byju’s hasn’t paid PF in months apparently?

Product Designer

Just heard that Byjus is about to close $250 million funding. Can someone confirm if this is true?

Byju's about to close $250 million funding

Engineering Manager

The Morning Vine 🍇

- 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

Byjus Valuation Sliced By 99% - Rasing a 200 million $ through rights issue at 250 million dollars

Software Engineer

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

Byju's bank accounts frozen

Product Owner

- Byju's auditor BDO (MSKA & Associates) has resigned, citing lack of transparency and pending legal issues.
- The resignation letter highlighted inadequate support from Byju's management in providing necessary audit information.
- Byju's co-founder Byju Raveendran called the resignation a blackmail tactic, claiming compliance with all auditor requests.
- BDO requested a forensic audit after Byju's admitted insolvency in July and mentioned loss of control over some subsidiaries.
- This marks the second auditor resignation in 15 months, following Deloitte's exit last year over delayed financial statements. 

 Source: [Entrackr](https://entrackr.com/2024/09/byjus-auditor-resigns-over-lack-of-transparency-founder-cries-foul/)

Byju's Auditor Resigns Amid Transparency Concerns; Founder Alleges Blackmail

99% off. Now $120Mn only.

Software Developer

India Business News: Byju Raveendran, CEO of Byju’s, criticized investors for hindering salary disbursement due to the lock on funds raised through the rights issue. Inves

Byju's unable to pay salaries as funds locked: Founder Raveendran - Times of India

Byju's Unable To Pay Salaries

Program Manager

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

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 that there has been some senior management connect, where in due to financial constraints & lack of new round of funding. Some folks will be asked to leave. 
This is a complete 360 from the conversation they had in Mar’23 where in an appraisal was on the cards

Another layoff at BYJUs

Growth Manager

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

Byju’s files for bankrupcy?

Is BYJU’S still live?  Do employees get their salaries paid on time?

Office Assistant

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

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

The edtech giant is stuck with a rising pile of unpaid loans of customers who have cancelled courses even as its founders scour the globe in search of a saviour.

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

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