NEW DELHI (Reuters) – India’s appeals tribunal on Friday ordered a halt on insolvency proceedings against embattled education startup Byju’s, days after the startup settled a $19 million payments dispute case with the country’s cricket board. The order allowed the parties to settle the case and comes as a temporary relief for the startup, which […]
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India tribunal orders halt on Byju’s insolvency proceedings
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NEW DELHI (Reuters) – India’s appeals tribunal on Friday ordered a halt on insolvency proceedings against embattled education startup Byju’s, days after the startup settled a $19 million payments dispute case with the country’s cricket board.
The order allowed the parties to settle the case and comes as a temporary relief for the startup, which once was India’s biggest, but in recent times has been plagued by boardroom exits, tussle with investors and a collapsing valuation.
(Reporting by Arpan Chaturvedi in New Delhi; Editing by Sonia Cheema)