Who is Byju Raveendran

NCLAT refuses to set aside order halting move to amend AoA

Byju's US-based lenders had opposed the settlement, claiming that the money used to repay BCCI was tainted as it was part of the $533 million that had allegedly gone "missing"

The federal government has asked the regional office of the Registrar of Companies in Hyderabad to investigate Byju's books to ascertain if the company misreported financial statements

William R Hailer said Raveendran sent him a plane ticket to Dubai just two days before Hailer was set to testify about Raveedran's efforts to regain control of parts of the Byju's education empire

Raveendran allegedly recruited Hailer, who is a former political consultant, to try to buy out US creditors owed more than $1.2 billion under a loan

Dorsey ordered Apple to return ownership of the apps to the US units. A lawyer for an Indian firm that had been wrongly given ownership of the apps unsuccessfully tried to persuade Dorsey

The dispute revolves around the $1.5 billion Term Loan B (TLB) guaranteed by Think and Learn Pvt Ltd, the parent of Byju's

Byju Raveendran, founder and chief executive of crisis-hit edtech firm Byju's, said the company, once valued at $22 billion, has seen its valuation plummet to zero

Last month, the Supreme Court reserved its verdict on a plea of a US firm against NCLAT order stopping insolvency proceedings against Byju's

The company got the $1.2 billion loan nearly three years ago as it planned to use most of the proceeds on an international expansion, Raveendran claimed

Money that should be used to repay creditors was instead siphoned off to Whitehat Education Technology, a court-approved trustee for the affiliates said in court papers

There will also be a discussion on the inauguration of the state-of-the-art National Cricket Academy on the outskirts of Bengaluru

As a small token of appreciation, Raveendran said he has managed, against all odds, to borrow some funds and to compensate the employees and urged them to continue teaching

Glas Trust has filed an appeal against Byju's claiming dues of $ 1.35 billion, or Rs 11,432.98 crore, arising out of the raising of $ 1.2 billion by the edtech firm as Term Loan B

Byju's statement further added that they had 'multiple call recordings', where BDO representatives explicitly suggested backdating these documents, which Byju's refused to do

Lenders have been trying to force Byju's into an insolvency proceeding in a court in India for months, but with limited success

Byju's was once a darling of global investors and valued at $22 billion in 2022, but is now facing insolvency due to its dispute with US lenders

The four investors are the biggest foreign shareholders in Byju's with a combined stake of nearly 17 per cent

The matter will now be heard on August 27

India's Supreme Court is set to hold on Thursday its next hearing in the insolvency process it allowed to continue last week, when it sided with the protesting US lenders