BYJU, education tech company is facing insolvency after its valuation crashed from $22bn (£17bn) to under $2bn (£1.5bn) due to "financial mismanagement and compliance issues".

Byju's has suffered a series of setbacks in recent months, including job cuts, a 90 per cent collapse in valuation and a tussle with investors who have accused chief executive Byju Raveendran of corporate governance lapses.