Lenders File for Involuntary Bankruptcy Against Byju’s US Subsidiaries

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In a new setback for struggling startup Byju’s, term loan lenders have filed petitions in a US court. They are seeking to initiate involuntary Chapter 11 bankruptcy proceedings against Byju’s US subsidiaries Epic, Tynker, and Osmo. The lenders aim to protect and maximize the value of these entities. They hope to benefit all stakeholders and…

BYJU'S India CEO Arjun Mohan

CEO of Byju’s India Arjun Mohan resigns

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Seven months after taking on the position, Arjun Mohan, the CEO of Byju in India, announced his resignation. Byju Raveendran, the company’s founder, will now lead the organization despite growing challenges in paying off its outstanding debt, staff salaries, and vendor bills. “The changes follow an extensive seven-month operational review and cost optimisation exercise led…