देश की सबसे बड़ी Edtech Company Byju's मुश्किलों के दौर से गुजर रही है. कंपनी की फाइनेंशियल हेल्थ एकदम खराब हो चुकी है और हाल ये है कि कर्मचारियों को सैलरी देने के लिए अब कंपनी के पास पैसे नहीं बचे हैं और इस क्राइसिस के बीच Byju's Founder Byju Raveendran ने अपना घर तक गिरवी रख दिया है. ऐसा एक रिपोर्ट में दावा किया गया है.
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~HT.178~PR.147~ED.148~GR.124~
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~HT.178~PR.147~ED.148~GR.124~
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NewsTranscript
00:00 The country's largest tech company, Baiju, is going through a difficult time.
00:04 The company's financial health has deteriorated.
00:06 The situation is that the company has no money left to pay its employees.
00:12 And in the midst of this crisis, the founder of Baiju, Baiju Ravindran, has even mortgaged his house.
00:18 This has been claimed in a report.
00:20 Let's know the full story in this video.
00:21 Hi, this is Bhavna and you're watching Good Returns.
00:24 Bloomberg has said in a report that the salary of Baiju's employees is stuck.
00:29 And the company is in a financial crisis.
00:32 While the staff is getting a salary,
00:35 Baiju Ravindran has mortgaged his house in Bangalore, Karnataka, to pay off his employees' salary.
00:42 Baiju Ravindran family owns two houses in Bangalore.
00:46 And he has an under construction villa in Absalon.
00:49 He has mortgaged it for 12 million dollars, which is about 100 crores.
00:54 The company has used the money to pay 15,000 employees in parent company Think and Learn Private.
01:02 However, no comment has been made by Baiju's management in this regard.
01:07 This has been claimed in a report by Bloomberg.
01:10 Let's understand what is the crisis of Baiju.
01:13 The company has been in a financial crisis for a long time.
01:19 And the company is also fighting with the institutions that lend money.
01:24 Baiju was once called India's most valuable tech startup.
01:29 In fact, if you look at the financial crisis in Baiju,
01:32 there is a loan of about 800 million dollars on this tech startup.
01:36 And recently, Baiju has made a 1.5 billion dollar term loan.
01:40 The company was unsuccessful in paying off the EMI,
01:43 which has led to a legal battle.
01:46 To pay off the debt, the company has started selling its digital platform in 400 million dollars.
01:55 The company has been in a financial crisis and the valuation of Baiju has been affected.
02:01 And it has affected their employees too.
02:03 Ravindran's property was sold for about 5 billion dollars.
02:07 He has taken a loan of 400 million dollars on personal debt.
02:11 For this, he has put all his shares in the company.
02:14 In addition, he has invested about 800 million dollars to save the company.
02:19 Because of this, he has no cash left.
02:22 If we talk about this, then there is a new problem of Fema in the financial crisis.
02:27 In the last few days, the EDI survey found that the company has received a foreign direct investment of about 28,000 crores in the duration of 2011-2023.
02:39 The company has sent back about 9,754 crores in foreign investment in the name of foreign direct investment during this duration.
02:48 With this, the company's many campus was searched and a seizure was also carried out.
02:52 Not only this, the EDI started an investigation against Baiju on the basis of complaints received against the company.
02:59 The main director of the investigation found that the company has not prepared its financial data from FY 2020 to FY 2021 and has not conducted an audit of the accounts, which is mandatory.
03:11 According to the EDI, the reality of the accounts obtained by the company is being investigated by the banks.
03:17 During the investigation, many summons were issued to the company founder Baiju Ravindran.
03:21 In addition, during his days of success, Baiju also became the sponsor of the Indian cricket team.
03:28 Although later he removed his name from the jersey of Team India.
03:32 Currently, the BCCI and Baiju are stuck in legal disputes.
03:36 The hearing of this case is going on between the National Company Law Tribunal, i.e. NCLT.
03:41 So this is the whole crisis that the company is struggling with at the moment, which has affected the company's valuation, employees.
03:48 And now the situation has come that Ravindran Baiju had to mortgage his house so that he can pay his employees.
03:55 Well, there has been no official announcement or statement from the management about this.
04:00 What do you think? Do tell us by commenting.
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