Byju’s says it has not received notice from the agency, and reached out to investors assuring them it complied with regulations
He had played an integral part in setting up the US operations at Byju’s.
The company has fired over 3,000 employees so far. A spokesperson from Byju’s confirmed the development.
In 2021, BYJU'S acquired 33-year-old brick-and-mortar coaching centre AESL for nearly USD 940 million in a cash and stock deal.
Byju Raveendran has become the poster boy of financial, ethical, moral and operational scandals. But the ed-tech tycoon is mounting a fierce fightback.
Promoters- Byju Raveendran, Divya Gokulnath and Riju Ravindran have together sold shares worth around $408.53 million in 40 secondary transactions since 2015.
Edtech firm Byju’s co-founder and CEO Byju Raveendran on Thursday tried to clear the air and alleviate the panic by asking his team to “rise above the noise”.
Prosus, which holds less than a 10 per cent stake in Byju’s, has invested USD 536 million in it since 2018.
Edtech firm Byju’s, which lost its auditor last week, has been delaying the provident fund (PF) payments of several employees for almost six months now.