Ecosystem Roundup: US court rules Byju’s defrauded investors | SoftBank’s US$16B AI bet | Ola Electric cuts 1,000+ jobs

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Ecosystem Roundup: US court rules Byju’s defrauded investors | SoftBank’s US$16B AI bet | Ola Electric cuts 1,000+ jobs - e27

Quick Summary:

Dear reader, In a significant blow to once-celebrated edutech giant Byju’s, the United States Bankruptcy Court in Delaware has ruled that the company orchestrated an “unlawful scheme” to defraud investors through wrongful money transfers.

This US judgment follows a recent win for lenders in India, where the Supreme Court ruled in favour of Glas Trust’s insolvency proceedings.

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