Byju's crisis: An arbitrator, appointed under Singapore International Arbitration Centre rules, has ordered Byju’s not to dispose of 4 million shares of Aakash, which amounted to a 6 per cent stake as per the loan agreement.
Byju's crisis: Investors are seeking the ouster of Byju Raveendran and family from the board of the company at an extraordinary general meeting of shareholders.
Byju's crisis: The petition states that a service agreement was signed between the parties on April 16, 2022, and 21 invoices raised from March 14 to the end of August 2023 remained unpaid by Byju's.
BYJU's had "over hired" people at the time of Covid pandemic due to sudden jump in online education, but the demand has now receded, for which the company needs to do the course correction, reported PTI quoting sources.