India’s top court has put on hold a tribunal ruling that halted Byju’s insolvency proceedings in a win for U.S. creditors that are seeking $ 1 billion from the edtech startup. The Indian Supreme Court ordered on Wednesday a stay on the National Company Law Appellate Tribunal’s recent approval of a settlement between the Indian […]
Byju’s, once valued at $22 billion, faces insolvency proceedings
An Indian tribunal court initiated insolvency proceedings for Byju’s, once India’s most valuable startup, on Tuesday in response to a petition from the country’s powerful cricket board. The Tuesday ruling installs an interim resolution professional to manage the company’s operations, pushing the once-billionaire founder out in a dramatic turn for a firm that was valued […]