Reuters

India tribunal orders halt on Byju's insolvency proceedings

By Reuters,

5 hours ago

https://img.particlenews.com/image.php?url=1QZoVY_0ulP9xHA00

NEW DELHI (Reuters) - India's appeals tribunal on Friday ordered a halt on insolvency proceedings against embattled education startup Byju's, days after the startup settled a $19 million payments dispute case with the country's cricket board.

The order allowed the parties to settle the case and comes as a temporary relief for the startup, which once was India's biggest, but in recent times has been plagued by boardroom exits, tussle with investors and a collapsing valuation.

(Reporting by Arpan Chaturvedi in New Delhi; Editing by Sonia Cheema)

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