My father broke down after seeing news 2 days ago

The web of crisis at Byju’s, India’s leading edtech firm, has reached a crescendo as the company fights back investors who poured billions into it.

How the fight ends remains to be seen, but murmurs within the startup world are gauging the spillover effect of the Byju’s saga on the ecosystem.

Once pegged as India’s most-valued startup, Byju’s is facing multiple challenges that include a massive cash crunch, delays in financial reporting and legal disputes with lenders.

BYJU'S Founder and CEO Byju Raveendran on Sunday told employees that his father broke down after seeing the news two days ago.

"That he, my rock-solid support, was moved to tears made me feel a sudden pain," Raveendran added.

Recently, a group of BYJU'S investors sought an extraordinary general meeting to remove Raveendran and his family from the top roles.