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Byju's founder secures private debt to meet employee salaries amid financial strains, NLCT dispute, says report

With this, the edtech unicorn has now disbursed partial salaries for both February and March to employees after previous delays.

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Meet man whose company was once valued at Rs 183000 crore, then took debt to pay employees' salaries due to...

His net worth has fallen to zero from Rs 17,545 crore, according to the Forbes Billionaire Index 2024.

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Byju's salaries: Byju's arranges for alternative credit, begins March salary payouts

ET had reported on April 1 that Bengaluru-based Byju's delayed salaries for workers again as amid a severe cash crunch.

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Indian firm once valued over Rs 165924 crore struggles to pay salaries again, it is now…

The edtech company has mandated all its employees to work from home as it gives up office spaces across the country amid a severe cash crunch, barring those working at its offline tuition centres.

Byju-raveendran , National-company-law-tribunal , Byjus , Yju-raveendran , Yjus-salary , Yjus-crisis , Yju-raveendran-startup ,

Byju Raveendran: Byju's Holds Extraordinary General Meeting to Raise USD 200 Million - Here's What Happened Inside | Companies News

The meeting, which commenced at 10 am, saw the participation of approximately 20 investor representatives alongside Think & Learn management., Companies News - Times Now

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Byju's gets breather: NCLT allows EGM slated for March 29 amid $200 mn rights issue despite investor objections

Byju's, the beleaguered edtech giant, is seeing a glimmer of hope in its fight against a cash crunch. The NCLT has allowed the company to proceed with a crucial EGM scheduled for March 29. The EGM aims to increase Byju's authorised share capital, a necessary step for its $200 million rights issue.

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Byju's vacates all offices except HQ to cut costs, shifts to remote work, says report

This move is strategic and prompted by the edtech unicorn's ongoing liquidity concerns, arising from a dispute with investors regarding funds raised in a recently concluded rights issue offering, it added.

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NCLT reserves order on Byju's rights issue; Meity tweaks IT rules

Byjus and a group of its investors have been given three days by the National Company Law Tribunal to file written submissions on a plea about the edtech firms rights issue. This and more in todays ETtech Morning Dispatch.

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Byju's NCLT hearing: Investors allege over $500 mn diversion to hedge fund

Earlier in the day, the investors argued that the process adopted by Byju’s for its $200 million rights issue is “in breach of laws”. They said that the board of directors had to call an Extraordinary General Meeting (EGM) of shareholders before the rights issue so that they could vote.
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Byju's rights issue closes today, top investors likely to give it a miss

The issue has been fully subscribed, CEO Byju Raveendran had said in a letter to shareholders ahead of the February 23 EGM

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