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.
Wanted NSCN (K-YA) cadre held in Assam by security forces
The army and Assam Rifles in coordination with the Assam Police, apprehended a wanted top cadre of the National Socialist Council of Nagalim-Khaplang’s Yung Aung faction (NSCN-K-YA) from the state's Charaideo district, officials said on Monday.
PM Modi condemns Germany market attack, advocates brotherhood at CBCI Christmas event
Prime Minister Narendra Modi on Monday condemned attempts to incite violence in society, highlighting that the teachings of Jesus Christ promote love, harmony, and brotherhood.
National Awardee film-maker and 'parallel cinema' doyen Shyam Benegal dies at 90
Shyam Sunder S. Benegal, a multiple National Award winner and among the pioneers of ‘parallel cinema’ – with silver screen classics like “Junoon”, “Ankur”, “Manthan”, “Zubeida” and “The Making of the Mahatma” – passed away after a long battle with a kidney disease, his family said here on Monday.
End of no-detention policy: Students failing final exams in Classes 5, 8 will be retained in same grade
The central government has scrapped the "no-detention policy" in schools. In this regard, the Ministry of Education has issued an official Gazette notification.
Former SC judge V. Ramasubramanian appointed as NHRC Chairperson
After being without a regular designated head for over six months, the Centre on Monday cleared the appointment of retired Supreme Court judge Justice V. Ramasubramanian as the Chairperson of the National Human Rights Commission (NHRC).
Minister Sushanta Chowdhury chairs 15th meeting of state road safety council
The state road and transport minister Sushanta Chowdhury on Monday chaired the 15th meeting of the State Road Safety Council here at Agartala and said that the government is contemplating to ensure zero road accidents through generating more awareness.
AIIMS like Medical College in TTAADC; Nadda seeks proposal from Tripura govt
The Union Health Minister J P Nada has sought proposal from the Tripura government over establishing AIIMS like Medical College in Tripura Tribal Areas and Autonomous District Council (TTAADC).
Lok Sabha MP Biplab Kumar Deb slams Congress's dynastic politics
Former Tripura Chief Minister and current Lok Sabha MP, Biplab Kumar Deb, on Monday launched a scathing attack on the Congress party's dynastic politics, accusing it of surrendering power to the communists in the state due to family-based succession.