[Byju vs Investors] Zoom call phishing LAFDA

- 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/)

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.

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- 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

Can someone tell what happened in today's townhall by Byju

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

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

Byjuites here, how are the things at the organisation? With Byju's disqualifying its lenders and filing counter-suit, I expect things may not have improved as many of us would have hoped for the largest ed-tech. Are silent lay-offs still happening?? Any other worrying signs??