Byju's stated that its auditor, BDO Global, stepped down due to unfulfilled document requests during insolvency proceedings. The edtech firm noted...
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Maroc - Times of India - Business - 02/Aug 13:40
Byju’s averts bankruptcy as court allows debt settlement
Byju’s managed to avoid insolvency by securing time to repay $19 million owed to India's cricket board. A court halted insolvency proceedings after a partial payment. However, Byju’s still faces several bankruptcy cases and legal troubles, with its valuation dropping significantly. Investor confidence is dwindling, leading to delayed staff salaries. Venture investments in India’s young firms have dwindled, depriving the country of capital needed to diversify and grow the world’s fifth-largest economy.
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