Hockey team in search of a new path under coach Fulton
It noted that the self-regulatory mechanism can be strengthened after taking note of all existing material, including the inputs of former apex court judges.
In continuation of the recent trend, another edtech major has issued pink slips to hundreds of employees. Bengaluru-based Byju's - valued at $22 billion - has laid off about 500 employees at its group companies -WhiteHat Jr and Toppr. It's a move to drive cost efficiency, according to the company. The number of layoffs, cutting across various department functions, may increase, sources said.
The legal battle between Byju's and lenders in the US on the edtech firm's $1.2-billion term loan B (TLB), along with the company skipping an interest payment of $40 million on the loan, has made the other investor Davidson Kempner Capital Management, "extremely concerned", according to the people familiar with the matter. They said Byju's has closed a Rs 2,000-crore ($250 million) round from the US-based investment firm and it may stop or consider slowing down the flow of various tranches of that capital to the company. It may also decide not to provide any new funding or participate in any such round in the future, the sources said.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
'They have got the advisory council, a CEO has been appointed finally, and they have made some headway on the term loan B.'
A bench comprising Chief Justice N V Ramana and Justices Surya Kant and Hima Kohli has listed as many as 12 PILs, including the ones filed by Editors Guild of India and veteran journalists N Ram and Sashi Kumar, for hearing on February 23.
A government source on Saturday said that the matter related to Pegasus software is being monitored by a committee under the Supreme Court and its report is awaited.
Edtech firm Byju's has rolled out a 4-tier tech-driven internal sales process replacing its existing direct sales process to check mis-selling, the company said on Monday. The development comes against the backdrop of summons issued to the company by child rights body National Commission for Protection of Child Rights (NCPCR) over allegations that the edtech firm is indulging in malpractices to lure parents and children to buy their courses. Under the new sales model, interested customers having minimum monthly income of Rs 25,000 will be eligible to buy courses from Byju's and will need to give consent for placing the order and before closing of the sales.
The law ministry said 78 per cent of high court judges appointed between 2018 and 2022 belonged to the upper caste.
2022 Qatar World Cup is BYJU'S first major move into soccer.
Karan Bajaj, founder of WhiteHat Jr, on Wednesday announced his exit from the company, a year after the coding platform was acquired by edtech giant Byju's. Trupti Mukker, who was the head of customer experience and delivery, will now lead the organisation. In a post on LinkedIn, Bajaj shared the announcement of his departure from a company he founded in 2018.
Citing national security, the Centre had refused to file a detailed affidavit in the matter.
The SC, in October last year, had ordered a probe into the alleged use of the spyware.
The Supreme Court on Friday refused to pass any order on a plea alleging that former IPL commissioner Lalit Modi made "scurrilous" remarks against former attorney general and senior advocate Mukul Rohatgi in a social media post.
Congress leader and MP Manish Tewari on Thursday said the new Agnipath scheme is a much-needed reform in the right direction while noting that the armed forces should not be an employment guarantee programme.
The stock-and-cash deal is the biggest in the education space.
'Kids like something when it is interesting, focused, and offers scope for self-exploration.' 'We teach them how to learn, not force them,' Byju Raveendran tells Bibhu Ranjan Mishra.
In instructions for polling issued on Saturday, Congress central election authority chairman Madhusudan Mistry had said Pradesh Congress Committee members 'will mark '1' on the ballot paper against the name of the candidate and fold the ballot paper to put it into the ballot box'.
Start-up entrepreneurs nearly doubled their contribution to philanthropy in 2022 but their numbers shrank. They decreased to only three (from five) in the top 100 of the Edelgive Hurun India Philanthropy List of 2022 which was released on Thursday. Over the year, no new start-up whizz kid joined the list either. The three start-up entrepreneurs who made it to the list contributed collectively Rs 166 crore in FY22, nearly double that of Rs 83 crore in FY21.
The media report claiming India bought Pegasus spyware as part of a $2 billion defence deal with Israel in 2017 has triggered a major controversy with the Opposition alleging that the government indulged in illegal snooping that amounted to 'treason'.
'They're a great team. You can't give away opportunities like that to a fantastic team like that.'
Bajaj sold his 18-month-old start-up WhiteHat Jr to Byju Raveendran for $300 million in an all-cash deal - over the video conferencing platform Zoom. The deal is the biggest in the Indian edtech sector by far.
The BJP MP has been vocal in empathising with farmers agitating against the three agri laws enacted by the Modi government and sharing Vajpayee's speech is seen as his message to the central government.
Harmanpreet Singh had also captained the side in the recent series against Australia, where the side fought hard before losing the five-match rubber 1-4.
Don't look for a volunteering job for money, but as an investment for life, advises management consultant Virender Kapoor.
Here are glimpses of the ecstatic Indian hockey team...
Three experts on cyber security, digital forensics, networks and hardware were roped in by the Supreme Court on Wednesday to "enquire, investigate and determine" whether Pegasus spyware was used for snooping on citizens and their probe would be monitored by former apex court judge R V Raveendran.
Gandhi said avenues of employment for the average young person in rural India are largely restricted to seeking government jobs but the government is employing less than before in every sector be it defence, police, railways or education.
It's also among the top five most valuable Internet companies in India, reports Yuvraj Malik.
The committee has shared an online form consisting of 11 questions seeking comments of lay persons until March 31.
Byju's, says Anita Kishore, has given the founders of the businesses it has acquired the independence to operate separately and maintain their core culture.
The top court said in order to declare whether the exercise is academic or infructuous, it needs to examine the matter since both sides are not agreeable.
The Supreme Court agreed to hear on Friday, instead of Wednesday, a batch of pleas alleging the use of Israeli spyware for surveillance of certain people in India, after taking note of the submissions of the solicitor-general that he would be busy arguing a money-laundering case in another court.
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
A Rajya Sabha member now, Gogoi was earlier being provided with a security cover of the Delhi Police.
Unacademy is conducting another round of job cuts and laying off 350 employees or 10 per cent of its workforce of 3,500, as the SoftBank-backed edtech firm targets profitability and reduces costs, according to an internal note sent by Gaurav Munjal, co-founder and CEO of Unacademy group, to the staff. Munjal said the restructuring exercise would affect about 10 per cent of employees across the group. "I am deeply saddened to share that we will have to say goodbye to some of our extremely talented Unacademy employees," said Munjal in the letter addressed to employees and reviewed by Business Standard.
While BlackRock is an existing investor in Byju's, T Rowe joined as a new investor.
Does this Budget deserve cheers or boos? You decide
The squad includes goalkeepers PR Sreejesh, Krishan Bahadur Pathak, and defenders Varun Kumar, Amit Rohidas, Surender Kumar, Jugraj Singh, Harmanpreet Singh, Jarmanpreet Singh, and Gurinder Singh.
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