Byju's, once valued at $22 billion, faces insolvency proceedings
An Indian tribunal court initiated insolvency proceedings for Byju's, once India's most valuable startup, on Tuesday in response to a petition from the An Indian court has initiated insolvency proceedings against edtech giant Byju's, once-valued at $22 billion.
An Indian tribunal court initiated insolvency proceedings for Byju’s, once India’s most valuable startup, on Tuesday in response to a petition from the country’s powerful cricket board. The Tuesday ruling installs an interim resolution professional to manage the company’s operations, pushing the once-billionaire founder out in a dramatic turn for a firm that was valued at $22 billion at its peak.