Byju Raveendran's net worth a year ago was Rs 17,545 crore ($2.1 billion) and he featured in several prestigious 'globe's richest' lists. However, according to the recently released Forbes Billionaire Index 2024, his net worth has fallen to zero.
Byju’s faces additional challenges, including legal battles at the National Company Law Tribunal (NCLT) and operational strains following the recent acquisition of Aakash. Despite its earlier success, the company grapples with a series of setbacks, including auditor resignations, bankruptcy proceedings against a holding company, and legal disputes in the United States regarding loan terms and repayment. - Newsx
If a company fails to comply with the conditions defined in the Companies Act when calling for an EGM, the decisions taken in the EGM may be be invalidated if challenged at the NCLT.
Byju's to raise up to Rs 2,200 crore in funding led by Oxshott Venture Fund Edtech major Byju’s is raising further funding of up to Rs 2,200 crore led by Oxshott Venture Fund, regulatory filings sourced through business intelligence platform Tofler showed. Edelweiss’s Crossover Opportunities Fund, Verition Multi-Strategy Master Fund, XN Exponent Holdings and MarketX