Indian edtech firm Byju's, valued at $22bn, faces insolvency and a $1bn debt dispute with US lenders, leaving 27,000 employees unpaid.
Indian edtech company Byju's, once valued at $22bn, faces insolvency and a $1bn debt dispute with US lenders, leaving 27,000 employees unpaid for up to three months. The company is fighting the insolvency move in court as it faces potential liquidation, and employees are considering street protests or lawsuits. With a possible shutdown of services, the insolvency case could be the largest among India's tech startups, raising concerns about employee dues and company stability.
August 22, 2024
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