Page 5 - Learn Pvt News Today

Byju Raveendran, the founder of edtech titan Byju’s, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch, the report said

Two homes owned by the former billionaires family in Bengaluru, in southern India, and his under-construction villa in Epsilon — a plush gated community in the city — were offered as collateral to borrow $12 million

Two homes owned by the former billionaire’s family in Bengaluru, in southern India, and his under-construction villa in Epsilon — a plush gated community in the city — were offered as collateral to borrow $12 million, the people said, asking not to be named as the information is not public.

Two homes owned by Raveendran's family in Bengaluru and his under-construction villa in Epsilon — the most exclusive gated community in the city — were offered as collateral to borrow $12 million (approx Rs 100 crore)

Scheduled for December 20, the primary agenda of the meeting is to seek the approval of the audited financials for the fiscal year 2022.

The agency alleged violations by the company worth over $1.12 billion under the Foreign Exchange Management Act (FEMA).

The notice extends to Byju Raveendran, founder of Byju's, and Think and Learn Pvt Ltd. The ED's action follows an investigation into potential FEMA contraventions by the prominent edtech company.

India Business News: The Enforcement Directorate (ED) on Tuesday issued show-cause notice to Byju's for allegedly violating foreign exchange rules amounting to Rs 9000 cro

The notice reportedly encompasses Byju Raveendran, the founder of Byjus, and Think and Learn. The EDs move comes after an inquiry into potential FEMA violations by the ed-tech unicorn.

The potential sale of Epic! Creations Inc. would help Byjus raise funds to pay down a disputed $1.2 billion term loan, people familiar with the matter said. Other bidders, including Duolingo Inc., have also expressed interest in buying the platform, they said, asking not to be named as the information isnt public.