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MEMG has initiated an arbitration proceeding against Byju for allegedly not repaying its loan through a pre-agreed transfer of shares of its company, Aakash Education ....
Earlier in the day, ET reported that ED had found alleged forex violations to the tune of Rs 9,000 crore by edtech giant Byjus, citing sources. In response to ETs request for comment on the matter, a spokesperson said the company “unequivocally denies media reports that insinuate it has received any notice from the Enforcement Directorate.” ....
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. ....
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. ....
Byjus has been working with bankers to sell the two assets to strategic investors and the sources told us it has garnered some interest. Simultaneously, it is in talks to raise fresh equity capital, the people added. ....