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Investors question Byju's on Rs 1,700 crore billing, commission to Dubai affiliate | Business News

Startup says Rs 1,400 crore dues grossly overstated, outstanding net amount is around Rs 614 crore

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Byju's: Investors flag Byju's failure to recover Rs 1,400 crore from reseller

In an Extraordinary General Meeting (EGM) notice, a copy of which ET has reviewed, the investors said the company's value has eroded due to the management's neglect in enforcing its legal rights. More Ideas General Trading, the sole selling agent of Byjus in GCC countries, owes the edtech firm over Rs 1,400 crore, which the company has been unable to recover despite paying over Rs 300 crore in commissions on sales of Rs 634.18 crores recorded in FY22.

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Zomato's ecommerce push; Byju's failure to recover vendor dues

The Deepinder Goyal-led company is looking to augment the front-end offerings of Blinkit by having an in-house back-end supply chain where it would source, manage the inventory and enable distribution of brands, multiple people aware of the companys plans told ET.

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