News > Byju’s bankruptcy ruling in US catches Indian official off guard

Byju’s bankruptcy ruling in US catches Indian official off guard

The decision, made at a Tuesday hearing in Delaware, will lead to involuntary Chapter 11 bankruptcy of units including Neuron Fuel Inc., Epic! Creations Inc. and Tangible Play Inc., court papers showed. The order was made as a default judgment after the units failed to share the requested information with creditors. The development was “surprising” and “in conflict” with insolvency proceedings in India, wrote Pankaj Srivastava in a letter.