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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The founders of the beleaguered ed-tech firm have denied the allegation.
A fresh filing in the Delaware Bankruptcy Court has alleged that most of the $533 million missing from Byju’s Alpha was “round tripped back to Byju Raveendran and associates”. Co-founder Raveendran, however, has denied the allegations.
Byju’s Alpha is the Indian edtech firm’s US-based subsidiary that received the term loan B proceeds and is now in control of the lenders.
As part of the court filing (seen by The Morning Context), OCI Ltd, a London-based financial services company that reportedly received most of the disputed funds in 2022, has given testimony detailing how the money allegedly moved through its accounts …
Profit or loss is a definitive number because it can be traced back to a company’s books of accounts, audited by a certified auditor. Any number that doesn’t have this stamp of sanctity is a baseless claim.
In the making for many months now, the final outcome at the edtech startup is an instructive episode for both founders and venture investors on when they must let go.
Alakh Pandey and Prateek Maheshwari’s edtech startup will be a first-of-its-kind story from India of a YouTube content platform that has gone on to pull off a public listing.
