No, Dr Zakir Naik won't be extradited to India: Malaysian PM

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

New Delhi, Jan 14: The Kerala government has challenged the new Citizenship (Amendment) Act (CAA) before the Supreme Court, becoming the first state to do so amid nationwide protests against the religion-based citizenship law. The Supreme Court is already hearing over 60 petitions against the law.

Kerala's Left-led government in its petition calls the CAA a violation of several articles of the constitution including the right to equality and says the law goes against the basic principle of secularism in the constitution.

The Kerala government has also challenged the validity of changes made in 2015 to the Passport law and the Foreigners (Amendment) Order, regularising the stay of non-Muslim migrants from Pakistan, Bangladesh and Afghanistan who had entered India before 2015.

The Citizenship Amendment Act (CAA), eases the path for non-Muslims in the neighbouring Muslim-majority nations of Pakistan, Afghanistan and Bangladesh to become Indian citizens. Critics fear that the CAA, along with a proposed National Register of Citizens (NRC), will discriminate against Muslims.

The Kerala petition says the CAA violates Articles 14, 21 and 25 of the constitution.

While Article 14 is about the right to equality, Article 21 says "no person will be deprived of life or personal liberty except according to a procedure established by law". Under Article 25, "all persons are equally entitled to freedom of conscience."

Several non-BJP governments have refused to carry out the NRC in an attempt to stave off the enforcement of the citizenship law.

Over 60 writ petitions have been filed in Supreme Court so far against the Citizenship (Amendment) Act. Various political parties, NGOs and also MPs have challenged the law.

The Supreme Court will hear the petitions on January 22.

During the last hearing, petitioners didn't ask that the law be put on hold as the CAA was not in force. The Act has, however, come into force from January 10 through a home ministry notification.

New Delhi, April 5: Former Karnataka chief minister HD Kumaraswamy on Sunday challenged Prime Minister Narendra Modi to offer a "credible scientific and rational" explanation for his candle-lighting call and said he is giving "meaningless tasks" to an already exhausted population.

The JD(S) leader questioned if the Prime Minister asked the nation to observe a candle-light vigil on the eve of foundation day of BJP.

"Has the PM slyly asked the nation to observe a candle light vigil on the eve of foundation day of BJP? April 6 being its foundation day, what else can explain the choice of date & time for this event? I challenge the PM to offer a credible scientific and rational explanation," Kumaraswamy tweeted.

"The government is yet to provide PPEs for doctors and make test kits affordable for the common man. Without telling the nation what concrete steps are being taken to combat COVID-19 menace, the prime minister is giving meaningless tasks to an already exhausted population," he tweeted.

"It is shameful to convert the national crisis into an event of self aggrandizement & it is beyond shameful to push the hidden agenda of his party in the face of global calamity. May sense prevail upon the PM," the JDS leader said in another tweet.

Amid a nationwide COVID-19 lockdown, Prime Minister Modi on Friday appealed to countrymen to light diyas and candles on April 5 at 9 pm to fight the darkness spread by the pandemic. He asked the people to turn off all the lights in their homes and stand at doors or balconies and light candles or diyas, torches or mobile flashlights for 9 minutes on April 5.

Last month, PM Modi had asked the people to come out in their balconies and clap and beat utensils to show appreciation for doctors, nurses and others helping fight coronavirus on 'Janata Curfew'.