Byju’s appeals to NCLAT Chennai against insolvency; hearing set for July 29

The National Company Law Appellate Tribunal (NCLAT) in Chennai is set to hear Byju’s appeal against the insolvency proceedings on July 29, according to a report by Bar and Bench. Senior advocate Pramod Nair, representing Byju’s parent company, Think and Learn, highlighted the urgency of the matter before the NCLAT bench, emphasising the need to pay employee salaries.

Byju’s, once valued at $22 billion and backed by investors such as Prosus and General Atlantic, has recently faced significant challenges, including job cuts, a decline in valuation, and disputes with investors accusing CEO Byju Raveendran of corporate governance issues. The company has denied any wrongdoing.