A recent poll conducted by the ‘Startup India’ community on Reddit has sparked discussion around leadership qualities in the Indian startup ecosystem. The poll, which saw participation from a significant number of users, revealed the community’s picks for the “Best” and “Worst” Indian startup founders. Best rated founder Sridhar Vembu, the CEO of Zoho, emerged…
BENGALURU: In a surprising turn of events, EY Restructuring has stepped down from its role as an advisor to Pankaj Srivastava, the NCLT-appointed internal resolution professional at troubled edtech firm Byju’s, according to sources who spoke to TOI.TOI has reviewed a document containing the minutes of the first Committee of Creditors (CoC) meeting, which mentions…
MUMBAI: Byju’s US lenders have moved the Bengaluru bench of the National Company Law Tribunal to seek removal of Pankaj Srivastava as the interim resolution professional of the startup. Byju’s faces insolvency after the Supreme Court stayed an order by the National Company Law Appellate Tribunal, approving the settlement between the company and BCCI, in…
Major foreign investors in Byju’s have reportedly requested the Supreme Court to hear their concerns as the court deliberates on the future of the embattled education technology company. Byjus four biggest foreign investors include: General Atlantic, Prosus, Peak XV, and Sofina. The four companies collectively hold nearly 17% stake in Byju’s.In an August 25 filing,…
Byju Raveendran, the founder and CEO of edtech firm Think and Learn has to its employees, addressing their concerns over non-payment of July salary. He told the employees that the company is unable to access its accounts due to a temporary stay granted by the Supreme Court on the national law tribunal’s decision.Adding that every…
NEW DELHI: National Company Law Tribunal on Tuesday admitted the BCCI‘s application seeking insolvency proceedings against Byju’s.This came after the law tribunal said that “it cannot be disputed” that the parent of the ed tech firm, Think & Learn Private Limited, had availed the services of the cricket board and had defaulted on over 1.59…
Financial firm HSBC has cast serious doubt on the future of Indian edtech giant Byju’s, assigning zero value to Prosus’ nearly 10% stake in the company. This harsh assessment comes amidst Byju’s ongoing legal battles and deepening financial woes. Prosus is a Dutch-listed technology investment company. In a note to investors, HSBC highlighted multiple factors…
Job industry is experiencing layoffs across industries around the globe. In India, large new-age companies like Swiggy, Ola, Paytm and others have cut down their workforce since January 2024. Here we compile list of India firms that have laid off their employees Simpl fired around 25% of its workforce Simpl, a buy now pay later…
MUMBAI: Amid the cash crunch and delay in disbursement of full salaries to employees, Byju’s has started paying its sales staff on the basis of the revenue they generate for the company every week. Under the new structure which the company claims is temporary, employees across all levels of the department will get a certain…
The wave of mass layoffs swept across some of the world’s largest companies in April 2024, with tech titans like Tesla, Google, and Apple forced to cut thousands of jobs. So far, more than 70,000 people have lost their jobs in the tech sector this year. Apple fired over 600 employees Apple laid off 614…
