Ranjan Pai vs Byju's: Manipal Group's director initiates arbitration against troubled ed-tech - What we know so far https://t.co/noG7c5jiG1
Another Blow For Byju's: Arbitrator Blocks Aakash Education Share Sales Over Loan Terms https://t.co/la1ZAtFDZA
#LeadStoryOnET | #RanjanPai initiates #arbitration against #Byju's for not repaying #loans worth $42 million https://t.co/QVGbnvwK5V
Edtech firm BYJU'S has encountered a significant setback as an arbitrator has ordered the company not to sell a 6% stake in Aakash Education, amidst ongoing arbitration over a loan repayment issue with the MEMG Family Office involving loans worth $42 million. This decision comes after BYJU'S breached terms of loans, marking the latest in a series of challenges for the company, which has been facing allegations of mismanagement. The arbitration was initiated by Ranjan Pai, director of the Manipal Group, highlighting a critical development in the edtech sphere.
