Byju's is asking three global investors to reconsider their decision to quit its board, three sources with direct knowledge of the situation said, as the Indian education technology firm wrestles with the fallout of its auditor's resignation.
Its rise was seen as a boost for India's startup scene as investors including General Atlantic made big bets on Byju's.
Byju's and its lenders are involved in legal cases in the U.S. over the restructuring of a $1.2 billion loan.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India ordered inspection of Byju's last week - CNBC-TV18India's corporate affairs ministry ordered an inspection of edtech startup Byju's last week, CNBC-TV18 reported on Friday, citing sources.
Read more »
The Bidens’ India state dinner menu blends Indian, American flavorsWhen the dining is about high-stakes diplomacy, the menu is chosen with guests’ needs and preferences in mind. The state dinner, the third of the Biden administration, will be mostly vegetarian, in keeping with the dietary restrictions of its Indian guest.
Read more »
Byju's auditor Deloitte, three board members sever ties with embattled edtech startupDeloitte and three board members of Byju's have severed ties with the Indian startup, said sources on Thursday, amid the edtech company's escalating legal battle with its lenders and its plummeting valuation in the eyes of some investors.
Read more »
Fail with big backers signals messy Byju’s unwindAuditor Deloitte is walking away from the self-claimed world’s largest education tech firm, and investors including Prosus and what was Sequoia India appear to be following. It implies talks with lenders over a $1.2 bln loan are at a dead end and ups the pressure for a breakup.
Read more »
AOC and 'Squad' Democrats planning to skip speech from Indian Prime Minister Narendra ModiSeveral progressive Democrats from the 'Squad' are boycotting Indian Prime Minister Narendra Modi's address to a joint session of Congress on Thursday as human rights organizations continue to condemn India's treatment of minorities and political opponents.
Read more »
USD/INR Price Analysis: Indian Rupee recovery hinges on clear break of 81.80USD/INR bears flirt with the short-term key supports around 81.90 amid the sluggish Asian session during early Thursday, mainly due to China’s holiday
Read more »