Downfall of Byju’s

This refers to ‘ED upgrades lookout circular against Byju’s promotor’ (February 23). It is crucial to reflect on the significant downturn experienced by Byju’s, once hailed as the darling of the edtech sector. Byju Raveendran’s ambitious pursuit of rapid expansion, following initial success during the surge in demand for online learning post the Covid-19 pandemic, steered the company off course.

Regrettably, in his quest for phenomenal growth, Raveendran lost sight of prudent means, opting for an aggressive capital mobilisation strategy through an inorganic growth model. Unfortunately, this approach, coupled with an overly zealous expansion, resulted in mounting debts and subsequent defaults. These financial challenges unveiled questionable accounting practices, ultimately shaking the very foundation of the company.

Byju’s serves as a stark lesson on how corporate entities should not be managed, underscoring the perils of prioritising unchecked growth over financial prudence and governance.

Srinivasan Velamur


Attracting investments

This refers to ‘Implications of recession’ (February 23). The political stability, inflation-controlling measures of the RBI, and the robust socio-economic reforms being enforced by the government have transformed India into a preferred destination for investment. The RBI has estimated the Indian economy will grow at 7 per cent at a time when Japan and Britain are facing recessionary conditions. Since Japan and Britain are trading partners of India, the effects of the recession there can impact our economy, especially our exports.

VSK Pillai

Changanacherry, Kerala

Expand export markets

Recession is defined as a situation of slow fall in aggregate demand leading to a fall in employment, income and output. It can last for months. Now, Japan is in this unenviable economic situation. This naturally means, other nations including India will find it hard to export goods and services to Japan. Hence to that extent, foreign exchange earnings of these countries will be affected. It is here, the significance of diversifying exports arises. India, in particular, should explore more markets to export its commodities and earn considerable foreign exchange, which is vital for economic growth. What India loses in Japan economically can be made good by other nations.

S Ramakrishnasayee


Conduct of elections

This refers to ‘Lessons from Chandigarh’ (February 23). The apex court once again had to be dragged in to save the democratic process in the subterfuge-inflicted mayoral election, by invoking the Constitutional powers vested under Article 142. The diminishing code of conduct and ethics on the part of the persons responsible for conducting elections transparently is worrisome, and they must face deterrent punishment. Also, accountability should be fixed on the authority nominating such persons for handling such important tasks. However, the main cause of worry is that amidst mounting pressure on the judiciary in settling the humongous number of pending cases, the inefficiency of the state administration is unnecessarily adding to the burden of the courts.

Sitaram Popuri