The Indian Directorate of Enforcement (ED) has urged the Bureau of Immigration (BOI) to issue a look-out circular (LOC) against Byju Raveendran, the founder and CEO of the embattled edtech giant Byju's, as reported by the Economic Times.

ED seeks look out circular against Byju's founder amid ongoing investigation: Report

Amidst financial turbulence, Byju's, the prominent ed-tech firm, finds itself embroiled in investor discontent, with calls for the ouster of CEO Raveendran and restructuring of its board.

Byju's faces investor discontent with calls for ouster of CEO Byju Raveendran

“I saw my father breaking down” and “it made me feel a sudden pain,” Byju Raveendran wrote in a letter to Byju’s employees. Once called India’s ed-tech behemoth, as it earned the title of India’s most-valued startup, Byju’s today is reeling under heavy setbacks, including a liquidity crunch, accounting irregularities, scrutiny from government bodies, alleged mis-selling of courses, predatory marketing, overpricing, mass layoffs, among others.

Explained | From BYJU’S celebrated hero to despised villain, the story of Byju Raveendran

A major shake-up is brewing at India's troubled EdTech giant, Byju's. Shareholders, including prominent investor Prosus, are leading a revolt, demanding a change in leadership amidst a series of crises. Once valued at $22 billion in 2022, Byju's has recently faced a series of challenges, including resignations from its auditor Deloitte and board members.

Byju's valuation freefall sparks shareholder push for leadership change

A coalition of prominent shareholders, led by tech investor Prosus, is ramping up its push to oust the founders of Indian edtech giant Byju's and initiate a leadership overhaul.

Prosus-led shareholders push for leadership change at Byju's: Report

Byju's, once the world's most valuable edtech startup, has cut its valuation by 99% in a rights issue as the Indian firm scrambles to meet its liabilities and operational costs. The startup is looking to raise $200 million in the rights issue which the company says is essential to prevent any further value impairment to shareholders.

Byju's cuts valuation by 99% in rights issue

Byju’s, the leading edtech startup and once India's most valuable, has launched a rights issue aiming to raise $200 million as it grapples with a severe funding crunch.

Byju’s valuation falls 99 pc in $200m rights issue: Report

BlackRock, the global asset manager, has taken a significant step by reducing the valuation of its stake in Indian edtech giant Byju's by 95 per cent, lowering it from $22 billion in early 2022 to a new valuation of $1 billion.

Byju's faces setback as BlackRock slashes valuation by 95pc to $1 billion

In a closed-door meeting with 50 top leaders, Byju Raveendran, the founder of edtech giant Byju’s, compared the company's current challenges to a "war on multiple fronts," expressing confidence that they would emerge victorious, according to media reports.

Byju's founder rallying leadership amidst challenges, confident of victory in ongoing crisis 

Ed-tech platform Byju's founder, Byju Raveendran, has pledged his home and the property owned by his family members to raise funds for the salaries of the ones employed by his firm, Bloomberg News reported on Monday (Dec 4).

Byju's founder Raveendran pledges property to generate funds for salaries of employees: Report

India's ed-tech giant Byju's has been slapped with a whopping 9,000 crore rupees ($1 billion) penalty by the Enforcement Directorate (ED) for allegedly violating foreign funding laws.

Byju's faces $1 billion penalty amid foreign funding law violation probe

Indian ed-tech startup, Byju’s, faced a setback as lenders successfully claimed a default on a $1.2 billion loan, enabling them to assume control of a unit of the education-technology giant.

Byju’s lenders prevail in legal battle over loan default, assert control of unit 

Indian ed-tech company Byju's is reportedly in the final stages of discussions to sell its US-based children's digital reading platform, Epic! Creations, to private equity fund Joffre Capital for approximately $400 million.

Byju's in advanced talks to sell EPIC to Joffre Capital for $400 million 

Byju Raveendran, the man behind the ed-tech giant Byju's, has experienced a whirlwind of success and setbacks. In April, he broke into tears as his company faced a high-profile raid, raising concerns about potential foreign exchange violations.

Flashback Friday: Tracing the rise and fall of ed-tech start-up, Byju’s

An ex-employee of Byju's posted a tearful video stating that the Indian ed-tech company has been pressurising her to resign and threatened to not pay her salary beyond August 1 if she fails to resign.

‘Terminated suddenly, salary delayed’: Indian startup Byju's ex-staffer breaks down in video

A report by Bloomberg News citing people familiar with the matter, on Tuesday (July 11) reported that the Indian Ministry of Corporate Affairs (MCA) has ordered an inspection into the ed-tech startup Byju’s accounts over alleged governance lapses and compliance failures.

Indian government orders probe into Byju’s account books: Reports

Embattled Indian ed-tech company Byju's has started talks with some of its lenders to restructure its $1.2 billion term loan, sources told Bloomberg. The latest development comes amid allegations that India's most-valued startup had breached certain terms of its debt agreement.

Indian ed-tech Byju's, lenders start talks to restructure $1.2 billion term loan

Byju's- a prominent Indian education technology startup- is facing a slew of problems. On Tuesday (June 27), a Delaware court rejected a request by Byju's Term Loan B lenders to probe into a $500 million transfer from its US-based subsidiary Byju's Alpha to other entities.

Explained: What is wrong with Indian ed-tech startup Byju's?

Trouble mounts for the Bengaluru-based ed-tech company Byju’s as it might face action over delayed provident fund (PF) payments to the EPFO (Employees’ Provident Fund Organisation), reported the Indian media on Monday (June 26).

Byju’s might face EPFO action over delayed provident fund payments: Report

In a major blow to India's leading startup, Byju's, renowned audit firm Deloitte has tendered its resignation as the company's statutory auditor. Deloitte cited significant delays in receiving financial statements and the lack of resolution regarding audit report modifications. In an issued statement, Deloitte said that due to such irregularities, they are unable to plan and complete the audit in accordance with the applicable auditing standards.

Deloitte resigns as Byju's auditor amid financial irregularities

A report by Reuters, citing three sources familiar with the matter, on Thursday (June 22) said that three board members of the Indian ed-tech company Byju’s have quit.

India’s Byju’s denies three board members quitting; Deloitte resigns as auditors: Reports

Indian edtech giant Byju's has laid off nearly 1,000 employees across all the departments amid its tussle with lenders in the us for a 1 billion dollar term loan.

1,000 lose jobs at Indian edtech Byju's | World Business Watch

India's educational technology giant Byju's is expected to be laying off more employees, The Morning Context reported this on Wednesday citing an internal communication seen by it.

India's edtech giant Byju's to lay off 1,000 more employees: Report

Byju's, an Indian edtech powerhouse, is preparing to lay off about 1000 employees due to ongoing issues with foreign lenders. The newest reports of layoffs come at a time when the edtech company is looking for a new infusion of funding while resolving disputes with creditors. Media sources indicate that the layoffs may mostly affect the contractual staff who work in the sales and marketing teams.

India: Byju's to cut jobs, sales and marketing teams to face the heat

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