Byju's Gets NCLT Notice On Insolvency Petition By Surfer Technologies
Byju's is facing several insolvency pleas, including one by the Board of Control for Cricket in India.
The NCLT issued a notice to Think & Learn Pvt. on Tuesday on an insolvency plea against the Byju's operator by digital marketing firm Surfer Technologies Pvt. over unpaid dues.
The Bengaluru bench of the National Company Law Tribunal directed the beleaguered edtech firm to file a response within two weeks. The case is scheduled for a hearing on March 5.
Byju's is facing several insolvency pleas, including one by the Board of Control for Cricket in India. Teleperformance Business Services Co. has also approached the NCLT against Byju's.
The Bengaluru-based company's problems have peaked, with overseas lenders and a French outsourcing vendor moving for its insolvency in the past month.
Several major investors in Byju's have called for an extraordinary general meeting to seek changes and remove Byju Raveendran and his family from the edtech's board as well.
