Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
The National Company Law Tribunal (NCLT) has reinstated Glas Trust and Aditya Birla Finance as financial creditors of Byju's parent company, Think & Learn. This decision follows a petition from the two firms to be included in the committee of creditors (CoC). In a related development, Byju's executive Vinay Ravindra and business partner Rajendran Vellapalath were found in contempt of a US court, facing financial sanctions of $25,000 per day for non-compliance with a court order. The NCLT's ruling represents another setback for Byju's, a once-prominent player in the online education sector, as it navigates financial difficulties and legal challenges.
The NCLT on Wednesday reinstated Glas Trust and Aditya Birla Finance as lenders of cash-strapped edtech firm #Byju’s. @Bmishra94 https://t.co/YcN2nG5aVe
#Byju's manager Vinay Ravindra and company ally Rajendran Vellapalath were found in contempt of court and now face financial sanctions of $25k a day for refusing to comply with a US court order. #Edtech #Byju #ByjuRavindra https://t.co/0MadAd5p6K
#Business | Byju’s executive, business partner found in contempt of US court 🏛️👨🏻⚖️ Tap for more info⤵️ https://t.co/4IeNN2W91m #Byjus #Executive #BusinessPartner #USCourt