Byju’s Alpha unit files for Chapter 11 bankruptcy in Delaware
A unit of Byju’s, once one of India’s hottest tech startups, was put into bankruptcy in the US by a court-appointed agent who took over the shell company after it defaulted on $1.2 billion in debt. Byju’s Alpha Inc doesn’t have enough money to keep fighting with its parent company about the debt, according to court papers filed by the unit’s Chief Executive Officer Timothy Pohl.