MusicSince the 80s, Chithra has been omnipresent in the world of Malayalam film music. Her entry was perfectly timed — she came at a time when the old guard of singers had mostly left the film music scene and a new generation of musicians had emerged.Ks Chithra / Facebook‘Angopangam’, the semi classical song in the hugely popular film Devasuram (1993) is a favourite among the fans of Ks Chithra, often called the Vanampadi (nightingale) of Malayalam music. But the song has a backstory that many don't know — music director Mg Radhakrishnan had initially hired another singer for it. But when it turned out that the singer didn't possess the skills to pull off such a complex composition, Chithra was brought in, and the song was recorded in a single take. “She was flawless, a singing monster if one may call her that,” recalled singer Mg Sreekumar, who is also the late composer's brother.
- 8/19/2023
- by MariaR
- The News Minute
New Delhi, April 30 (Ians) Byju Raveendran, Founder and CEO of ed-tech major Byju’s, has written a letter to his employees, accessed by Ians, saying that in order to fund overseas acquisitions, the company has remitted “some of its funding” abroad, as it faced search and seizure operations by the Enforcement Directorate (Ed).
The Ed conducted search and seizure operations at three premises of Raveendran and his company Think & Learn Private Limited, under the provisions of the Foreign Exchange Management Act (Fema).
The Ed said that Byju’s “remitted Rs 9,754 crore to various foreign jurisdictions in the name of overseas direct investment”.
Raveendran told employees in the letter that “we have made a number of overseas acquisitions over the years as part of our growth strategy”.
“In order to fund these acquisitions, we have remitted some of our funding overseas,” he said.
He said that Byju’s has brought more...
The Ed conducted search and seizure operations at three premises of Raveendran and his company Think & Learn Private Limited, under the provisions of the Foreign Exchange Management Act (Fema).
The Ed said that Byju’s “remitted Rs 9,754 crore to various foreign jurisdictions in the name of overseas direct investment”.
Raveendran told employees in the letter that “we have made a number of overseas acquisitions over the years as part of our growth strategy”.
“In order to fund these acquisitions, we have remitted some of our funding overseas,” he said.
He said that Byju’s has brought more...
- 4/30/2023
- by Agency News Desk
- GlamSham
New Delhi, Dec 30 (Ians) After facing a turbulent 2022 that hit Byju’s as a brand from various quarters in 2022, its founder and CEO Byju Raveendran on Friday said they are undaunted by this negativity and the edtech major needed a rocky year to pave the way for its long-term success and resilience.
In a letter to employees seen by Ians, Raveendran said that as India’s largest startup, they have been in the spotlight for a while now.
“We have always been open to informed criticism, and we have never shied away from sharing our facts and figures. But criticism is one thing, and cynicism is quite another,” he wrote to employees.
“I have always maintained that we are pioneers in execution, not in perfection. Ultimately, the challenges faced this year have equipped us to weather every future storm and thrive for decades to come,” he said.
As the year came to a close,...
In a letter to employees seen by Ians, Raveendran said that as India’s largest startup, they have been in the spotlight for a while now.
“We have always been open to informed criticism, and we have never shied away from sharing our facts and figures. But criticism is one thing, and cynicism is quite another,” he wrote to employees.
“I have always maintained that we are pioneers in execution, not in perfection. Ultimately, the challenges faced this year have equipped us to weather every future storm and thrive for decades to come,” he said.
As the year came to a close,...
- 12/30/2022
- by News Bureau
- GlamSham
New reports have emerged that Byju’s, which may have seen a definite erosion in its last market value at 22 billion, hasn’t paid several of its vendors for months.
According to Morning Context, "some of the payments are due since March and there is trouble with their clearance. In the eight months to October 2022, cumulative dues to vendors have crossed Rs 90 crore".
When reached, Byju’s did not offer a comment on this report.
Some employees at the edtech major also reportedly complained about harsh work conditions and "mistreatment" by managers at the company, apart from several complaints from parents and customers making rounds on social media platforms and online consumer forums about being exploited and deceived by its sales teams.
Such complaints against Byju’s have been there in the past too, as India reopened amid ‘hybrid normal’ and schools and colleges return to normal earlier this year...
According to Morning Context, "some of the payments are due since March and there is trouble with their clearance. In the eight months to October 2022, cumulative dues to vendors have crossed Rs 90 crore".
When reached, Byju’s did not offer a comment on this report.
Some employees at the edtech major also reportedly complained about harsh work conditions and "mistreatment" by managers at the company, apart from several complaints from parents and customers making rounds on social media platforms and online consumer forums about being exploited and deceived by its sales teams.
Such complaints against Byju’s have been there in the past too, as India reopened amid ‘hybrid normal’ and schools and colleges return to normal earlier this year...
- 12/16/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Oct 31 (Ians) Amid the brouhaha over alleged forced termination at edtech major Byju’s, its founder and CEO Byju Raveendran on Monday told employees that there is a huge price to pay for walking on the path to profitability and the company will part ways with 5 per cent or 2,500 employees to “avoid role duplication across our businesses”.
In a letter to employees seen by Ians, Raveendran said that bringing those who are parting ways “back by putting our company on a sustainable growth path will now be the number 1 priority for me”.
“I want to emphasise that the overall job cuts are not more than five per cent of our total strength,” he said.
Raveendren wrote that while nothing can really compensate for their loss, “we have made available the best possible exit package to you which includes extended medical insurance coverage for you and your family members,...
In a letter to employees seen by Ians, Raveendran said that bringing those who are parting ways “back by putting our company on a sustainable growth path will now be the number 1 priority for me”.
“I want to emphasise that the overall job cuts are not more than five per cent of our total strength,” he said.
Raveendren wrote that while nothing can really compensate for their loss, “we have made available the best possible exit package to you which includes extended medical insurance coverage for you and your family members,...
- 11/1/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Oct 31 (Ians) Amid the brouhaha over alleged forced termination at edtech major Byju’s, its founder and CEO Byju Raveendran on Monday told employees that there is a huge price to pay for walking on the path to profitability and the company will part ways with 5 per cent or 2,500 employees to “avoid role duplication across our businesses”.
In a letter to employees seen by Ians, Raveendran said that bringing those who are parting ways “back by putting our company on a sustainable growth path will now be the number 1 priority for me”.
“I want to emphasise that the overall job cuts are not more than five per cent of our total strength,” he said.
Raveendren wrote that while nothing can really compensate for their loss, “we have made available the best possible exit package to you which includes extended medical insurance coverage for you and your family members,...
In a letter to employees seen by Ians, Raveendran said that bringing those who are parting ways “back by putting our company on a sustainable growth path will now be the number 1 priority for me”.
“I want to emphasise that the overall job cuts are not more than five per cent of our total strength,” he said.
Raveendren wrote that while nothing can really compensate for their loss, “we have made available the best possible exit package to you which includes extended medical insurance coverage for you and your family members,...
- 11/1/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Oct 17 (Ians) Edtech major Byju’S on Monday announced that it raised 250 million from its existing investors in a fresh round of funding.
Byju’S said it has embarked on a path to achieve group-level profitability by March 2023 with a three-pronged approach.
It consolidates all its K10 India subsidiaries into one unit to leverage their synergies.
“Byju’S is now at that sweet spot of its growth story where the unit economics and the economies of scale both are in its favour. This means the capital that we now invest in our business will result in profitable growth and create sustainable social impact,” Byju Raveendran, Founder and CEO of Byju’S, said in a statement.
“Regardless of the adverse macroeconomic conditions, 2022-23 is set to be our best year in terms of revenue, growth and profitability. Continued support from our esteemed investors re-affirms the impact created by us so far,...
Byju’S said it has embarked on a path to achieve group-level profitability by March 2023 with a three-pronged approach.
It consolidates all its K10 India subsidiaries into one unit to leverage their synergies.
“Byju’S is now at that sweet spot of its growth story where the unit economics and the economies of scale both are in its favour. This means the capital that we now invest in our business will result in profitable growth and create sustainable social impact,” Byju Raveendran, Founder and CEO of Byju’S, said in a statement.
“Regardless of the adverse macroeconomic conditions, 2022-23 is set to be our best year in terms of revenue, growth and profitability. Continued support from our esteemed investors re-affirms the impact created by us so far,...
- 10/17/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Sep 27 (Ians) Byju’s Co-founder and Director Divya Gokulnath on Tuesday revealed that the last six months were super tough for her husband Byju Raveendran, not only on the professional front, but also in his personal life as he couldn’t sleep well because his father was fighting late-stage cancer.
In a LinkedIn post, she said that Raveendran was travelling around the world twice, sometimes thrice, a week to be by his father’s side as much as he could.
“These two teachers fought this tough battle the same way they had fought all the other challenges – together, with positivity and perseverance. Byju is relaxed today because a critical surgery last week went well,” Gokulnath posted.
After six stressful and tough learning months, Raveendran has said that “the worst is finally over” and there is only “growth ahead” as seen in the company’s FY22 financial results.
The...
In a LinkedIn post, she said that Raveendran was travelling around the world twice, sometimes thrice, a week to be by his father’s side as much as he could.
“These two teachers fought this tough battle the same way they had fought all the other challenges – together, with positivity and perseverance. Byju is relaxed today because a critical surgery last week went well,” Gokulnath posted.
After six stressful and tough learning months, Raveendran has said that “the worst is finally over” and there is only “growth ahead” as seen in the company’s FY22 financial results.
The...
- 9/27/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Sep 24 (Ians) Edtech major Byju’s has finally paid the remaining dues of nearly Rs 1,983 crore (over 245 million) to global Vc firm Blackstone in the 1 billion acquisition of Aakash Educational Services.
People close to the development told Ians that Byju’s paid the remaining dues to Blackstone within the extended deadline that ended on September 23.
According to Byju’s financial report FY21, “as per the terms of the agreement for acquisition of Aakash Educational Services, consideration to the extent of Rs 1,983 crore was due to be paid by the company to the sellers in June, 2022. This has been deferred to September 23, 2022”.
Blackstone has nearly 38 per cent stake in Aakash and Byju’s has paid nearly 75 per cent of the Aakash acquisition amount.
Last month, Byju’s said it had closed the 1 billion acquisition of offline test preparatory services provider Aakash, one of the largest deals in the edtech space.
People close to the development told Ians that Byju’s paid the remaining dues to Blackstone within the extended deadline that ended on September 23.
According to Byju’s financial report FY21, “as per the terms of the agreement for acquisition of Aakash Educational Services, consideration to the extent of Rs 1,983 crore was due to be paid by the company to the sellers in June, 2022. This has been deferred to September 23, 2022”.
Blackstone has nearly 38 per cent stake in Aakash and Byju’s has paid nearly 75 per cent of the Aakash acquisition amount.
Last month, Byju’s said it had closed the 1 billion acquisition of offline test preparatory services provider Aakash, one of the largest deals in the edtech space.
- 9/24/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Sep 20 (Ians) Breaking her silence, Byju’s co-founder and Director Divya Gokulnath on Tuesday said that the second blockbuster release of this year, after the movie “Brahmastra”, was the financial results of the 22 billion edtech major.
In a LinkedIn post, Gokulnath said that she hasn’t seen “Brahmastra” yet, “but I do happen to know Byju’S results because, as its Director, I was involved in its making”.
She mentioned that while Byju’s reported Rs 4,500 crore loss in FY21 due to accounting change, (or Rs 12.5 crore loss daily), “we made Rs 27 crore in revenue per day in FY22”.
Byju Raveendran had earlier told Ians that the losses in FY21 was because 40 per cent of the revenue got deferred on account of two things — revenue recognition change because of streaming revenue getting recognised over the period of consumption of the product, and Emi or credit sales getting recognised...
In a LinkedIn post, Gokulnath said that she hasn’t seen “Brahmastra” yet, “but I do happen to know Byju’S results because, as its Director, I was involved in its making”.
She mentioned that while Byju’s reported Rs 4,500 crore loss in FY21 due to accounting change, (or Rs 12.5 crore loss daily), “we made Rs 27 crore in revenue per day in FY22”.
Byju Raveendran had earlier told Ians that the losses in FY21 was because 40 per cent of the revenue got deferred on account of two things — revenue recognition change because of streaming revenue getting recognised over the period of consumption of the product, and Emi or credit sales getting recognised...
- 9/20/2022
- by Glamsham Bureau
- GlamSham
'Worst is over' and you'll only see growth in coming months: Byju Raveendran (Ians Friday Interview)
The edtech company with nearly 22 billion valuation went through an ordeal as it delayed the audited FY21 financial reports for nearly 18 months, inviting government scrutiny and serious questions from the public.
The FY21 report is out, with massive losses to the tune of Rs 4,500 crore, while Byju’s needs to pay the rest of the acquisition amount to global Vc firm Blackstore in the 950 million Aakash acquisition by September 23.
Raveendran told Ians that he is not worried at all about paying the rest of the acquisition money as the core education business is doing excellent and the company has a healthy cash reserve of more than 1 billion.
"The losses that you see in FY21 is because 40 per cent of the revenue got deferred on account of two things: revenue recognition change because of streaming revenue getting recognised over the period of consumption of the product," Raveendran explained in a free-wheeling interview.
The FY21 report is out, with massive losses to the tune of Rs 4,500 crore, while Byju’s needs to pay the rest of the acquisition amount to global Vc firm Blackstore in the 950 million Aakash acquisition by September 23.
Raveendran told Ians that he is not worried at all about paying the rest of the acquisition money as the core education business is doing excellent and the company has a healthy cash reserve of more than 1 billion.
"The losses that you see in FY21 is because 40 per cent of the revenue got deferred on account of two things: revenue recognition change because of streaming revenue getting recognised over the period of consumption of the product," Raveendran explained in a free-wheeling interview.
- 9/16/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Sep 14 (Ians) Edtech major Byju’S on Wednesday finally revealed its financial results for both FY22 and FY21, clocking gross revenues of nearly Rs 10,000 crore in FY22 and Rs 2,428 crore for FY21.
Ians was first to report on Byju’s FY22 revenues, at Rs 9,991 crore for its FY22 financial results.
The company said that there was significant business growth in FY21 over FY20, but since “this is the first year where new revenue recognition started because of a Covid-related business model change, almost 40 per cent of the revenue was deferred to subsequent years”.
“After six stressful months, we are finally relieved at the outcome. Our investors are ecstatic at the figures. The last couple of months have been a great learning experience for us,” the edtech platform’s Founder and CEO Byju Raveendran told Ians.
“From here on, we will double down on growth as our core business is booming.
Ians was first to report on Byju’s FY22 revenues, at Rs 9,991 crore for its FY22 financial results.
The company said that there was significant business growth in FY21 over FY20, but since “this is the first year where new revenue recognition started because of a Covid-related business model change, almost 40 per cent of the revenue was deferred to subsequent years”.
“After six stressful months, we are finally relieved at the outcome. Our investors are ecstatic at the figures. The last couple of months have been a great learning experience for us,” the edtech platform’s Founder and CEO Byju Raveendran told Ians.
“From here on, we will double down on growth as our core business is booming.
- 9/14/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Aug 25 (Ians) The Pegasus panel, in its report submitted in the Supreme Court, said the presence of controversial Israeli spyware Pegasus was not conclusively established in 29 mobile phones examined, and also the Central government did not cooperate in the probe.
The top court-appointed panel said five out of 29 mobile phones were possibly infected with some malware, but that does not mean it was Pegasus spyware.
The panel, headed by retired Supreme Court judge R.V. Raveendran, had submitted its report in the apex court last month. The panel said the government did not fully cooperate while examining the phone for the malware.
A bench, headed by Chief Justice N.V. Ramana and comprising Justices Surya Kant and Hima Kohli, said one thing the committee has said that the government did not cooperate.
The bench said: “The same stand you took here, you took there.” At this, Solicitor General Tushar Mehta,...
The top court-appointed panel said five out of 29 mobile phones were possibly infected with some malware, but that does not mean it was Pegasus spyware.
The panel, headed by retired Supreme Court judge R.V. Raveendran, had submitted its report in the apex court last month. The panel said the government did not fully cooperate while examining the phone for the malware.
A bench, headed by Chief Justice N.V. Ramana and comprising Justices Surya Kant and Hima Kohli, said one thing the committee has said that the government did not cooperate.
The bench said: “The same stand you took here, you took there.” At this, Solicitor General Tushar Mehta,...
- 8/25/2022
- by Glamsham Bureau
- GlamSham
Flix FlashbackDirector Kg George’s 1990 film is a strange concoction for an investigative thriller. There are fascinating characters, intrigue and drama, but at its core it is a heart-breaking tale of love and loss.Neelima MenonAsianetA woman is found dead at her home. The police suspect murder and get on with the investigation, meticulously questioning and probing every possible suspect. Ee Kanni Koodi (Connecting the links), another gem from director Kg George, is one of the finest investigative thrillers in Malayalam, which also happens to be relatively less discussed, like most of his films. The frames are bleak, lifelike in characteristic Kg George style. The film, which released in 1990, begins with a long shot of a house with an iron gate enclosing the compound. A man knocks, jots down a note. A while later, another man enters the premises. When he gets no response after ringing the bell, he approaches the police.
- 8/16/2022
- by Vidya
- The News Minute
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