Byju's is so messed up! LOL!

So after dodging many bullets Byju's finally goes to Insolvency Trial. Does anyone have any news of what's happening inside the company?

Absolutely crazy stuff. To summarize what I read: 1) Byju's apparently transferred $533Mn to Camshaft Capital - a random hedge fund in Miami that was started by a 23 year old, with barely any investing experience. 2) This hedge fund is run out of a building that has an iHOP (yes the food chain). When asked about the whereabouts, nobody even recognizes if the fund actually exists there 3) This fund typically accepts only upto $50Mn. How come Byju's transferred $533Mn to them? 4) 2023 Ferrari Roma, a 2020 Lamborghini Huracán EVO, and a 2014 Rolls-Royce Wraith -> All registered on this fund's papers 5) Now, Byju's lenders have filed a case against Camshaft in the US. Link to original article: https://www.bloomberg.com/news/articles/2023-09-12/byju-s-hid-533-million-in-hedge-fund-camshaft-run-from-miami-ihop-lenders-say#xj4y7vzkg

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

I'll go first. Narcissistic AF, named a whole product after his name!

"BYJU’S grew considerably since our first investment in 2018, but, over time, its reporting and governance structures did not evolve sufficiently for a company of that scale. Despite repeated efforts from our Director, executive leadership at BYJU’S regularly disregarded advice and recommendations relating to strategic, operational, legal, and corporate governance matters. The decision for our Director to step down from the BYJU’S Board was taken after it became clear that he was unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders." https://techcrunch.com/2023/07/24/prosus-questions-byjus-governance-says-indian-edtech-regularly-disregarded-advice/?tpcc=tcplustwitter

1.EGM meeting starts at 9 am 2.Allegedly Byju/pro Byju supporter leaked the zoom call meeting. 3.Random folks joined the meeting. 4.Whistles, hooting and sharp noises for next 45 mins. 5.Participants are asked to leave: They bombard chat with “we want byjus sir”, “byju is the heart of the company” 6.Meeting gets called off 7. 4 key investors file a suit at NCLT at 1 pm

I think, I haven’t seen a worst managed company like this.