Byju's in Crisis: Valuation Plummets Amid Financial Mismanagement and Legal Disputes

The edtech giant struggles to pay salaries and faces legal battles over $533 million in offshore funds.

Byju's, once a leading edtech firm in India, is embroiled in financial and legal turmoil, with its valuation plummeting by about 90% over the past year.
Founder Byju Raveendran has been ousted from his CEO position amid allegations of financial mismanagement and legal disputes involving $533 million stuck in an offshore trust.
The company is unable to pay employee salaries due to funds being locked in a legal dispute with some investors, despite having raised money through a rights issue.
A US court dismissed an attempt by Camshaft Capital Fund to avoid disclosing details about the $533 million, with potential sanctions looming for non-compliance.
Byju's struggles include auditor resignations, bankruptcy proceedings against a holding company, and a lawsuit in the US disputing loan terms and repayment.