💥 BYJU’s Legal Blitz Begins: $2.5B at Stake ⚖️

☀️ Good Morning and Happy Friday!

It's the kind of Friday where the markets are moody, startups are making bold moves, and even the Fed is facing remodeling drama. Grab your chai and scroll through a piping hot mix of funding, policy moves, and one very desi coin launch (👀 you, ULLU).

Let’s sip through what’s been brewing this week.

🫖 Chai Shots

• 🧑‍⚖️ BYJU’s founders to sue for $2.5B: Byju Raveendran and Divya Gokulnath are prepping a massive lawsuit against Glas Trust and others in India and abroad, blaming them for harming their reputation and business. The legal showdown follows a bitter insolvency fight around Think & Learn. More in the Big Brew 👇

• 🕵️‍♂️ Crypto theft hits new highs—with a violent twist: Over $2.8B in crypto has been stolen this year, including $1.5B in a single North Korea-linked hack. Scarier still: attacks are now targeting individual holders with physical violence and ransom demands.

• 🇮🇳🇺🇸 India-US trade talks heat up, but no deal yet: While Trump says a pact is “very close,” India is holding firm—especially on agri, dairy, and steel tariffs. The goal is to keep duties under 20%, but India won’t rush into anything not in its national interest.

• 🛢️ India claps back at NATO over Russian oil: After NATO’s Mark Rutte warned of sanctions, India defended its Russian oil imports, calling out “double standards.” The MEA made it clear: energy needs come first, global politics later.

• 🦄 Sweden’s Lovable becomes unicorn 8 months post-launch with $200M Series A: The AI-based app builder hit $75M in ARR with just 45 employees. It now boasts 2.3M users, 180K paid subscribers, and backing from Accel, Creandum, and the founders of Slack and HubSpot.

📈 Market Masala

• 📉 Sensex, Nifty end lower on expiry day as IT stocks take a hit: Markets closed in the red—Sensex fell 375 points and Nifty dropped 101—mainly due to weak IT performance. Tata Consumer and Realty stocks helped cushion the blow.

• 💰 Reliance Q1 profit may pop 88% YoY—thanks to Asian Paints windfall: RIL is expected to report a ₹28,500 crore profit, boosted by the sale of its Asian Paints stake. Digital, retail, and oil-to-chemicals segments should perform well, but exploration may be a drag.

• 🖥️ Wipro sees 2.3% revenue dip, but big deals offer hope: Wipro’s Q1 revenue slipped, but $5B in deal wins—up 50% YoY—suggest a brighter second half. CEO Srini Pallia says AI projects are finally moving from buzz to execution.

• 🧠 Amazon trims AWS roles to fund AI ambitions: Amazon is laying off hundreds in its cloud division to manage ballooning AI costs. CEO Andy Jassy said AI will automate many jobs in the coming years, echoing recent cuts by Microsoft too.

• 🛢️ Adani exits FMCG biz, sells 20% AWL stake to Wilmar for ₹7,150 Cr: In a strategic shift, Adani Group offloaded its 20% stake in AWL Agri Business to Wilmar at ₹275/share, marking a full retreat from the FMCG space. This deal, plus January’s earlier OFS, brings total proceeds to ₹15,729 crore—money Adani plans to plow into core infra plays like energy, utilities, and logistics. Wilmar now becomes the majority owner with a 64% stake.

🌍 Global Masala

• 📈 Wall Street rides high as earnings dazzle: The S&P 500 hit a new all-time high, powered by strong Q2 results from Pepsi, Netflix, and others. Retail sales and job data also beat expectations, keeping investor spirits high.

• 💵 Crypto scores a historic win in US: Congress just passed a landmark bill regulating stablecoins, giving the $265B market a boost of legitimacy. Trump-backed and bipartisan, it’s expected to unlock faster, cheaper payments—and has banks sweating.

• 🇦🇺 Aussie stocks hit record highs as Asia opens mixed: Australia’s ASX 200 hit a new peak, while Chinese and Hong Kong markets also opened strong. TSMC led gains in Taiwan after blowout AI chip earnings, and Japan saw cooling inflation.

• 🚗 JLR to trim 500 UK jobs after profit speed bump: Tata’s Jaguar Land Rover is cutting roles due to falling sales and US tariff troubles. It’s a bump in the road as the company preps for its EV transition.

☕ The Big Brew🧑‍⚖️💥 BYJU's Billion-Dollar Legal Blitz

It’s been a wild ride for BYJU’s—and now, it’s about to get even messier.

Founders Byju Raveendran and Divya Gokulnath are gearing up to file a $2.5 billion lawsuit against Glas Trust and others, accusing them of damaging their reputation and business. The suit will span both Indian and international courts and is linked to the ongoing insolvency proceedings involving BYJU’s parent firm, Think & Learn.

BYJU’s legal counsel isn’t pulling punches either. They’ve called out Glas Trust, Alpha, and their legal teams for “reprehensible conduct” and hinted that even more claims are coming in other countries.

🔍 Here’s what’s happening:

• 🧾 The founders are claiming personal and business damages due to actions taken by Glas Trust and co.

• 🇮🇳 A case has already been filed in India; 🌍 others are in the works abroad.

• 🏢 Glas Trust is at the center of BYJU's ongoing insolvency troubles and has claimed control over one of BYJU’s key subsidiaries.

💰 The suit seeks no less than $2.5 billion in damages. For BYJU’s, this is more than just courtroom drama—it’s a battle for:

• ⚖️ Legal redemption and image repair,

• 💸 Financial survival, and

• 🌍 Investor confidence both in India and overseas.

If they win (or settle favorably), it could be the first step toward stabilizing a sinking ship. But if the case drags or fails, it may deepen the company’s crisis and weaken India Inc.'s trust factor in global lending circles.

🚀 Startup Scoop

• 🏋️ CureFit flexes $2M funding, aims for profit: IPO-bound fitness unicorn CureFit has raised ₹16.8 crore from longtime backer First Luxembourg SCA, holding steady at its $1.6B valuation from four years ago. The startup says it’s on track for EBITDA profitability by March 2026, with FY25 revenue growing 30% and losses slimming down by over 50%.

• 🍔 Burger Singh grabs ₹47 Cr to fuel its desi burger empire: The homegrown QSR raised ₹47 Cr from investors like Negen Value Fund and Nine Rivers. With 175+ outlets in 75 cities, it plans to hit 1,000 locations by 2026—even while FY24 losses topped ₹27 Cr.

• 🪙 ULLU dives into Web3 with UlluCoin launch: OTT platform ULLU has launched its own utility token, UlluCoin, backed by Cypher Capital. The token unlocks fan rewards and premium content access—and could soon be used across the broader crypto world.

🤯 Chai Break Trivia

• 🤔 Did you know: India’s smartphone exports went from 167th to No. 1 in just 10 years in our export basket? But now, that ₹2.6 lakh crore engine is at risk—China’s silent trade barriers on components and tech transfers could throw a serious wrench in the works.

🔮 What’s Brewing Next?

• 📉 All eyes on India’s upcoming trade talks with the US and EU, especially around auto and dairy tariff concessions, as pressure from global alliances builds.

👋 That’s a Wrap!

Friday’s served with a double shot of startup spice and courtroom drama! Whether you’re tracking unicorns or tariffs, remember: markets may dip, but your chai must never.

We’ll see you soon with more news, no froth. Until then, stay curious and stay caffeinated. ☕