Page 22 - Learn Private News Today

Edtech major BYJUS on Friday said it has not defaulted on repayment of loans raised from American lenders and USD 500 million worth of loans were transferred from the groups US entities to fund growth plans. The statement comes against the backdrop of lender Glas Trust company and investor

The lawsuit was filed by Glas Trust Company and investor Timothy R. Pohl against Byju’s Alpha, Tangible Play, Inc. and Riju Ravindran. The two companies being sued are units of Think and Learn Private, the edtech empire founded by Byju Raveendran

One of India’s hottest tech companies, Byju’s Alpha, was sued by an agent for lenders owed $1.2 billion after months of negotiations between creditors and the education technology firm.

Which fund manager in the world will put money into a company that hasnt filed its annual account?

Since the ED has not filed any direct allegation against the company, shareholders may not be immediately worried. “But the fact that founder and CEO Byju Raveendran is evasive is worrying. That raises questions. Is he hiding something? This might be concerning them,” said an investor

Byjus is one of Indias biggest startups, once valued at $22 billion

Amid searches by the Enforcement Directorate (ED), Byjus founder and chief executive officer Byju Raveendran...

BYJU's might also have trouble raising funds going forward due to funding winter in the startup ecosystem.

Following the ED search at premises linked to BYJU’S, the agency is planning to write to lenders and banks as part of the investigation.

ED alleges that during searches it seized incriminating documents and digital data