Ex-Billionaire Loses Control of Byju’s in Blow to India Tech (1)

The storied founder of Byju’s is losing control of his eponymous company after an Indian court pushed it into insolvency, a landmark ruling that may seal the fate of a startup that once symbolized India’s technology ambitions.

Entrepreneur and former billionaire Byju Raveendran now has few options left to try and salvage a company that ranked among the world’s most valuable internet startups at its peak. On Tuesday, the National Company Law Tribunal allowedbankruptcy proceedings to begin against the firm and installed an interim resolution professional to replace the founder following a petition from one of its creditors, the ...