"Canvas Legal, a Bengalurubased law firm, has issued a demand notice of more than 2.30 crore on behalf of 62 employees to Byju's," said Rajat Singh, a former Mathematics instructor at Byju's Tuition Centre in Delhi and representative of the ex-employees.
The letter, sent on July 4, 2024, and seen by Business Standard, warns: "The undersigned request you to unconditionally repay the unpaid operational debt (in default) in full within 10 days from the receipt of this letter failing which we shall initiate corporate insolvency resolution process in respect of M/S Think & Learn Pvt Ltd (Byju's parent)."
Denne historien er fra July 06, 2024-utgaven av Business Standard.
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Denne historien er fra July 06, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Give robust response to Sec 148A notice to avoid reassessment
The Income-Tax (I-T) Department is reviewing cases from assessment year (AY) 201819 for potential reopening, which may lead to a surge in tax notices.
Strong orders, margins to drive gains for Kaynes
The stock of the secondlargest electronic manufacturing services (EMS) player by market capitalisation, Kaynes Technology India, is up 10 per cent from its monthly lows.
Care Health Esop case: SAT stays Irdai order
The Securities Appellate Tribunal (SAT) on Friday granted a stay on Insurance Regulatory and Development Authority of India's (Irdai's) order against Religare Enterprises' (REL) executive chairperson, Rashmi Saluja, and its subsidiary, Care Health Insurance, in a matter related to the allotment of employee stock ownership plans (Esops).
Smaller SIPS, Reit reforms on Sebi's FY25 work list
The Securities and Exchange Board of India (Sebi) said on Friday that its key areas of work for the current financial year (FY25) included further reducing the minimum investment for mutual funds, faster processing of rights issues, and fostering greater innovations.
More regulation needed to curb retail speculation in F&O'
Indian stock markets are volatile at a time when the regulator, Securities and Exchange Board of India (Sebi), has introduced measures to curb speculative bets in futures and options (F&O). AMISHA VORA, chairperson & managing director of PL Capital - Prabhudas Lilladher, told Nikita Vashisht in an email interview that India had strong fundamentals for sustained market growth despite global uncertainties, \"mitigating concerns of a bubble\". Edited excerpts:
Prospects healthy for Bharat Forge, but stock fully valued
Premier engineering concern Bharat Forge has broadened its revenue streams by entering new non-auto segments and markets, resulting in the share of the auto business dropping to 58 per cent in the financial year 2024 (FY24) from 80 per cent (FY07).
Equity funds log ₹37K cr in July
Inflows in first four months of FY25 at ₹1.3 trillion, SIPs at record ₹23,332 crore
Ola Electric rises 20% on debut on EV optimism
Firm's valuation at 40K cr despite tepid response to IPO
Aamir gets front-row seat in CJI's court
Actor was attending the special screening of Laapataa Ladies in SC
US RECESSION FEARS HYPED?
But any slowdown may have dampening effect on India, while bringing a silver lining for import bill and FPI inflows
