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General Atlantic, Prosus ask Supreme Court to hear their concerns in Byju's insolvency

Economic TimesEconomic Times · 1m
General Atlantic, Prosus ask Supreme Court to hear their concerns in Byju's insolvency

Foreign investors in Indian edtech company Byju's, including General Atlantic, have requested the Supreme Court of India to address their concerns regarding the future of the company amidst its ongoing insolvency issues. Byju's, once valued at $22 billion, gained popularity during the pandemic by offering online training courses. However, it is now caught in a legal dispute with U.S. lenders seeking $1 billion in unpaid dues, leading to insolvency proceedings. Major foreign shareholders, such as General Atlantic, Prosus, Peak XV, and Sofina, are concerned about mismanagement at the company and wish to present their grievances to the court. Byju's and its CEO, Byju Raveendran, have not provided any comments at this time.

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