Page 13 - Learn Private News Today

The company said it will continue with the proposed $200-million rights issue that was announced earlier this week for existing shareholders, while adding that it has received encouraging responses from multiple investors.

Embattling edtech company Byju's on Friday said investors have no voting rights on CEO change, after statements from a select few investors surfaced, calling for an extraordinary general meeting (EGM) to replace founder and group CEO Byju ...

Byjus top management informs employees about receiving commitments for over 100% of proposed amount for rights issue. They accuse certain investors of conspiring against the company. Despite the crisis, salaries will be paid in a phased manner. The founders personally invested $1 billion during harsh economic conditions.

Around six investors in Think and Learn Private Limited, which operates under BYJU's brand

Byjus shareholders have moved a resolution seeking the ouster of the founders of the company, including CEO Byju Raveendran.

This comes days after Byju's launched a rights issue to raise USD 200 million from existing shareholders.

Get latest articles and stories on India at LatestLY. Around six investors in Think and Learn Private Limited, which operates under BYJU's brand, have called for an extraordinary general meeting to address issues at the edtech major and oust founders from having control over the firm, sources aware of the development said. India News | BYJU's Investors Seek Ouster of Founders.

The NCLT however opined that arbitration may not come in the way of an insolvency proceedings initiated by BCCI. Byjus however contended that there are both questions of law and fact involved in the dispute that could be adjudicated only through arbitration.

The NCLT noted that the case is high profile and it should be heard at the earlier possible date and adjourned the hearing of the case in January.

Embattling edtech unicorn Byju's parent company Think and Learn Private Limited will hold its 11th annual general meeting on December 20, as it faces myriad of issues amid severe cash crunch.The meeting has been called to approve and adopt the ...