US court places Byju's units in involuntary Chapter 11 bankruptcy due to default judgment.

A US court has placed Indian edtech firm Byju's and its units—Neuron Fuel Inc., Epic! Creations Inc., and Tangible Play Inc.—into involuntary Chapter 11 bankruptcy. This ruling follows a default judgment due to the units' failure to provide information to creditors. Byju's, valued at $22 billion, faces multiple bankruptcy cases globally. An Indian official has requested to stay the ruling, citing conflicts with ongoing insolvency proceedings in India.