An Indian tribunal court on Tuesday initiated insolvency proceedings for Byju’s, once India’s most valuable startup, in response to a petition from the country’s cricket board. The ruling effectively installs an interim resolution professional who will manage the company’s operations, pushing the startup’s founder out. The National Company Law Tribunal’s ruling (PDF) came in response to a petition from the Board of Control for Cricket in India (BCCI), which is seeking to recover nearly $19 milli...