Page 3 - Great Learning News Today

Byjus investors are reconciled to his acquisition of 40% in Aakash, the people said, adding that the Manipal Education and Medical Group chairman has also invested an additional Rs 250 crore as working capital and to pay salaries.

Investors demand ouster of Byju Raveendran and family, accuse management of non-compliance, misinformation, and withholding information. They seek details on AESL acquisition, loan terms, investigations, audits, and board restructuring for improved oversight and governance.

The EGM faced a number of disruptions, as unknown people tried to allegedly sabotage the meeting by various means, according to investor sources

The petition has been signed by four investors -- Prosus, GA, Sofina, and Peak XV -- along with support from other shareholders, including Tiger and Owl Ventures.

A Karnataka High Court order, however, bars enforcing any of the decisions taken during the EGM till the next date of hearing, which is March 13

At an EGM called by investors in Byju’s, participating shareholders unanimously voted for a change in leadership.Byju’s says the resolutions are invalid without at least one founder-director present at the EGM.On Thursday, a consortium of investors moved the NCLT against Byju’s rights issue

The entire edtech industry appears to be bearing the brunt of the crisis at BYJUS

Startup says Rs 1,400 crore dues grossly overstated, outstanding net amount is around Rs 614 crore

This EGM is procedurally invalid, contractually in contravention of our AOA and SHA, legally on the wrong side of the Companies Act, 2013. If it is still summoned, it will not have the required quorum and cannot proceed, a Byjus spokesperson said

A consortium of shareholders with over 30 per cent stake in cash-strapped Byjus might approach the National Company Law Tribunal (NCLT) seeking a management change, if the extraordinary general meeting (EGM) scheduled for Friday failed to yield an amicable settlement or faced further delays, sources said. Earlier this month, these shareholders had issued a notice calling for an EGM to address persistent issues, including a change in management. They will vote for a revamp of the existing board, ...