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| Name | Is it the end of Byju's era? | NCLT | Insolvency and bankruptcy code #nclt #insolvencylaw #byjus |
| Video Uploader | Video From Minvisk |
| Upload Date | This Video Uploaded At 06-07-2024 12:00:43 |
| Video Discription | RECENT UPDATES IN THE CASE: * The National Company Law Tribunal (NCLT) has instructed Byju's, the troubled edtech company, to pay its employees' salaries regardless of whether it secures funds through its rights issue. The NCLT also warned that if the salaries are not paid, an audit will be conducted by the Institute of Chartered Accountants of India. This directive came from the Bengaluru bench of the NCLT while hearing a petition from employees demanding their unpaid salaries, emphasizing that Byju's is still an operational company and should have revenue to cover these expenses. * Byju’s informed the National Company Law Tribunal (NCLT) that it has reached a settlement with Teleperformance Business Services of France, one of its operational creditors. As a result, Teleperformance has withdrawn its insolvency petition against Byju's, according to a source familiar with the matter who spoke on condition of anonymity. The case was being heard by a bench led by Justice K. Biswal under a section 9 petition of the Insolvency and Bankruptcy Code, 2016. The petition was filed by Teleperformance due to Byju's defaulting on dues amounting to ₹5 crore. #byjus #nclt #byjuscose #byjusnews #edtech #indianbusiness #financialnews #legalupdate #courtcase #byjusupdate #byjuscontroversy #ncltplea #businessnews #byjuslegal |
| Category | Education |
| Tags | Byju's | NCLT | insolvency | bankruptcy code | financial crisis | business downfall | educational technology | corporate insolvency | company liquidation | debt restructuring | business analysis | financial troubles | corporate governance | Byju's news | investment risks | legal proceedings | business impact | market dynamics | financial stability | educational sector |
