Byju’s turmoil highlights hurdles for startup scene

Even as India is being hailed as the next global growth story, a crucial building block for that success — its startup ecosystem — is getting pummelled.

Already stuck in a 15-month funding slump, India’s young companies are in danger of becoming collateral damage to the country’s highest-profile startup crisis in years. Byju’s, India’s most valuable upstart, is in turmoil after missing a deadline on financial statements, skipping payments on a $1.2 billion loan and losing its auditor and some of its board members.