Byju’s settles case with Teleperformance

Embattled edtech Byju’s has settled with France-based Teleperformance Business Services, the Bengaluru Bench of National Company Law Tribunal (NCLT) was told on June 26, a second relief for the company during the day.

The tribunal asked Teleperformance to file a memo saying it wished to withdraw the insolvency plea in view of the settlement for it to close the case.

MCA findings

This comes at a time when law enforcement agencies cleared the firm of financial fraud but found certain lapses in corporate government. The investigation by the Ministry of Corporate Affairs has uncovered lapses in Byju’s corporate governance but did not find evidence of financial fraud.