The Ministry of Corporate Affairs (MCA) clarified on Wednesday that it has not given Byju’s a clean chit over financial fraud as the investigation into the matter is still going on.
“There have been reports claiming that edtech startup Byju's has been cleared of financial fraud in an ongoing investigation by the Ministry of Corporate Affairs (MCA). It is categorically clarified that such reports are factually incorrect and misleading,” the Ministry said.
“The proceedings initiated by the MCA under the Companies Act, 2013, are still ongoing and no conclusion should be drawn in this matter at this stage,” the Ministry added.
The beleaguered Byju’s is currently involved in multiple cases in courts as well as in the National Company Law Tribunal (NCLT).
The edtech company is trying to raise $200 million in a rights issue but has been restrained from utilising any funds by the NCLT.
Byju's is also exploring out-of-court settlements with some of its creditors. Once valued at $22 billion, the edtech company is now worth zero. Global investment giant Prosus wrote off the value of its shareholding in Byju's, recording a loss of $493 million in its annual report for FY24.
Tripura has begun experimental soilless hydroponic farming: Minister
The Tripura government has experimentally started the hydroponics method of cultivation without any soil, the state’s agriculture minister Ratan Lal Nath said here on Friday.
Assam Rifles seized cannabis worth Rs 30 lakh from Tripura
In a swift and decisive operation against narcotics smuggling, Assam Rifles, in close coordination with representatives of the Directorate of Revenue Intelligence (DRI), successfully seized approximately 195 kg of marijuana from the general area of Taranagar, Agartala during the early hours of 12 June.
High-Level Meeting Held to Curb Illegal Infiltration in Tripura
A high-level administrative meeting was held today at the state secretariat under the chairmanship of Chief Secretary J. K. Sinha, following the directives of Tripura Chief Minister Prof. (Dr.) Manik Saha, to review and strengthen measures against illegal infiltration in the state.
Agriculture minister announces development of 3 new paddy varieties in Tripura
The state agriculture and farmers welfare department minister Ratan Lal Nath on Friday announced development of three new paddy varieties in Tripura, which can address the recurring flood-related challenges faced by farmers in the state.
CM Dr Manik Saha inaugurates state-of-the-art Cancer Care Unit in Agartala Private Run Hospital
Chief Minister Prof. (Dr.) Manik Saha on Friday inaugurated a state-of-the-art Cancer Care Center at a private run hospital in Agartala. The new center has been established in collaboration with the International Oncology Cancer Institute, aiming to make quality cancer treatment more accessible within the state.
‘I can’t believe I survived’, says lone survivor of Air India crash in emotional meeting with PM Modi
Prime Minister Narendra Modi on Friday met Vishwash Kumar Ramesh, the sole survivor of the devastating Air India plane crash. Ramesh, a British national of Indian origin, is recovering from injuries sustained in the crash and is being treated at a hospital in Ahmedabad.
Ahmedabad crash: Two Manipuri crew members of London-bound Air India flight killed
Two cabin crew members from Manipur - Kongbrailatpam Nganthoi Sharma (20) and Lamnunthem Singson (26) – were killed when the London-bound Air India flight, carrying over 240 passengers, crashed shortly after taking off from the Ahmedabad airport.
Doctor couple’s dreams of new beginning in UK turned to ashes
A doctor couple’s dreams of a new beginning together as a family in UK turned into a nightmare and their last trip together as the ill-fated flight that was to take them to London crashed seconds after take-off on Thursday.