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Teleperformance’s insolvency plea against BYJU’S linked to unpaid dues of INR 3 Cr-INR 4 Cr

Inc42 · 1y

Teleperformance filed an insolvency plea against BYJU'S due to the termination of their contract without prior notice and failure to clear INR 3-4 Cr of outstanding dues. BYJU'S violated contractual clauses, resulting in significant financial losses for Teleperformance. This adds to BYJU'S growing number of insolvency cases, which include a payment dispute with BCCI and an insolvency case filed by overseas lenders. The cash-strapped company is now aiming to raise $200 Mn from existing investors through a rights issue at a severely reduced valuation.