A US bankruptcy court has ordered a freeze on $533 million in loan proceeds belonging to Think & Learn Pvt, the parent company of Byju’s. Ravindran…either was being untruthful or he’s the most incompetent officer or director of a company in Delaware history.” “The significance of the court’s ruling for all aggrieved parties owed money by Byju’s cannot be overstated…The …
Bengaluru: Byju's funds amounting to $533 million are currently in a 100% non-US subsidiary and Florida-based Camshaft Capital Fund is no longer handling the money, the troubled edtech firm said on Tuesday. The funds from Camshaft were first transferred to another fully owned US subsidiary of Byju’s, Inspilearn, and from there to a fund based outside the US, Byju's said. …
Edtech company Byju's, currently grappling with an intense financial crisis, said on Sunday they were unable to pay the salaries of their employees due to the investors of their company blocking the funding. However, a web of financial mismanagement and court proceedings traced a hefty sum of $533 million to Byju's, tied up in an offshore account, revealed a US …
