Ex-Billionaire Loses Control of Byju's in Big Blow to India Tech.

Byju's, a prominent Indian edtech startup, is facing insolvency after an Indian court ruled in favor of a petition filed by the Board of Control for Cricket in India, one of its creditors. The court appointed an interim resolution professional to replace founder Byju Raveendran and invited other creditors, employees, and vendors to file claims. This ruling marks a significant setback for Byju's, which was once valued at $22 billion and considered a symbol of India's technology ambitions. The company's financial troubles have been exacerbated by legal issues in both the US and India. [Extracted from the article]

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