19/7/2024, 8:30:06 pm

Byju's faces total shutdown if insolvency proceeds, says founder

Byju's, India's biggest startup valued at $22 billion, faces insolvency proceedings, which may lead to a total shutdown of services and force thousands of employees to quit. The Indian tribunal triggered the proceedings due to Byju's outstanding payment of $19 million to the country's cricket board. If the process continues, vendors may declare default, and Byju's assets remain frozen.