New Delhi, 17/6: Byju’s will challenge insolvency proceedings initiated against it in an attempt to block the process this week, as the startup once valued at Rs 1,83,814 crore ($22 billion) tries to tide over the crisis, two sources said on Wednesday.
The National Company Law Tribunal in the southern state of Karnataka on Tuesday ordered insolvency proceedings against the company after a complaint by the cricket board for not paying Rs 158 crore ($19 million) in dues.