The National Company Law Appellate Tribunal (NCLAT) has rejected the petition filed by Byju's resolution professional concerning a dispute over Aakash shareholding. Meanwhile, Byju Raveendran, founder of the Indian edtech giant Byju's, is at the center of an alleged $533 million theft. In related developments, two major American subsidiaries of Byju's, the kids learning platform Epic and the coding platform Tynker, were sold at significantly reduced prices in a court-ordered bankruptcy auction. CodeHS acquired Tynker for $2.2 million, while TAL Education purchased Epic for $95 million, both amounts representing a fraction of the original purchase prices paid by Byju's.
🚨🚨 @BYJUS owned kids learning platform Epic and coding platform Tynker were sold for a fraction of what the company paid for them.
🚨🚨 @BYJUS' kids learning platform Epic and coding platform Tynker sold a fraction of what the company paid for them.
Tynker and Epic, two of Byju's major American subsidiaries, have been sold at steep discounts in a court-ordered bankruptcy auction. CodeHS bought Tynker for $2.2 million, while Epic was sold to TAL Education for $95 million. Muskaan Gupta reports: https://t.co/So9LCCdkdM https://t.co/L4Bwj5yrQe