Breaking News
1. Over 25,000 women and children killed by Israel in Gaza- Pentagon chief      2. Union Home Minister Amit Shah & BJP national president JP Nadda arrive for the BJP CEC meeting at the party headquarters, in Delhi.      3. US State Dept: US in touch with senior israel govt officials on thursday on aid-related incident where dozens died in Gaza      4. New Delhi: Prime Minister Narendra Modi arrives for the BJP CEC meeting at the party headquarters.      5. West Bengal: PM Modi will hold public meeting in Arambagh Hooghly and inaugurate government projects.      6. Former Madhya Pradesh Chief Minister Shivraj Singh Chouhan, BJP Leader Prahlad Patel, and Madhya Pradesh BJP President VD Sharma leave from BJP headquarters, in Delhi.      7. At least 43 people have died in a fire in Bangladesh's capital city of Dhaka, reports AFP, citing the health minister of Bangladesh.      8. US says it struck missiles, drone that posed threat to Red Sea ships      9. Air Intelligence Unit of Trichy Airport seized 1061 grams of 24 carat Gold: Custom Officials      10. Hospital official says 50 killed as Israel fires on Gazans 'storming' aid trucks      11. First commercial semiconductor fab to be setup by Tata and Powerchip-Taiwan in Dholera      12. PM Modi lays the foundation stone and dedicates to nation multiple development projects worth about Rs 17,000 crore across Madhya Pradesh via video conferencing.      13. We are approaching ensuing elections with an aim to make India world’s third largest economy, says PM Modi      14. PM to address 'Viksit Bharat Viksit Madhya Pradesh', inaugurate Rs 17,000 cr projects      15. Uttarakhand Governor sends bill to President Droupadi Murmu for final approval      16. Bill to enshrine abortion rights in France's constitution passes the country's Senate, clearing a key hurdle (AP)      17. S Korea’s fertility rate, world’s worst, plunges yet again      18. Harry loses legal challenge over security downgrade      19. Elon Musk tweets "A change is coming to our recommendation algorithm that will ensure that all your followers see your pinned posts. This only applies to one pinned post every ~48 hours to prevent gaming of the system."      20. TMC leader Sheikh Shahjahan arrested by West Bengal Police from the Minakhan area in North 24 Parganas and taken to Basirhat Court: SDPO of Minakhan, Aminul Islam Khan     

Byju's Struggling to Repay Huge Debts after Huge Financial Losses

  • Posted on January 11, 2023
  • News
  • By Akta Yadav
Byju's Struggling to Repay Huge Debts:-
About Byju’s Byju’s is the world’s most prized online education platform providing education in all subjects to students right from primary classes to students appearing in highly competitive exams like the NEET, UPSC (Byju’s IAS) and IIT- JEE. The platform includes highly animated videos for practical and visual learning besides highly qualified personal mentors to students who frame study strategies according to strengths and weaknesses of each student. Byju's Struggling to Repay Huge Debts Byju's Struggling to Repay Huge Debts-Byju's Struggling to Repay Huge Debts Current Financial State of Byju’s The edtech giant, Byju's, faced a huge financial setback and as a result of this, Byju’s has failed to disclose its financial details on the given deadline for the current fiscal year. Currently, it has requested its creditors to provide an extended time period for the repayment of its loans amidst which, Byju’s will be negotiating a new 1.2 billion dollar loan deal. On the lines of this request, the creditors were given time until 10th of January to sign a deal of forbearance after which the Company will buy time until 10th of February, 2023. According to JPMorgan Chase & Co., the loan of Byju’s is one among the largest unrated term loan- B offerings globally for modern-world companies. Reason for the Loss Amongst many other reasons, one of the reasons to which the financial state of Byju’s has been attributed is the performance of its subsidiary, WhiteHat Junior which engaged in false advertisements and also had actor Shah Rukh Khan as one of the endorsement partners. In the fiscal year of 2021 itself, Byju’s was already at a loss of 4,500 crores. Byju's Struggling to Repay Huge Debts Byju's Struggling to Repay Huge Debts-Byju's Struggling to Repay Huge Debts Pressure by Creditors Despite the financial crisis of Byju’s, creditors are acting impatient and have pressed that Byju’s must use its financial reserves amounting to 850 million dollars from its unit in the United States. Byju’s has considered alternative policies and tactics to keep its creditors indulgent towards the health of the Company but the situation is still a tough one to be won.
No Image
Akta Yadav

You May Also Like