Byju’s representatives stated that their funds are currently held in an escrow account with the National Company Law Tribunal (NCLT), with a hearing scheduled for July 4. They promised to update the Labour Department following the hearing, media reports revealed
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The company's rapid expansion led to a cash shortage and a decline in valuation, resulting in multiple lawsuits in India and the US
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Blackstone and Chaudharys are exploring a sale to private equity investors keen to get a foothold in the company, which is currently a subsidiary of Think & Learn
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