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Shareholders abstained to vote initially on resolutions as new statutory auditors MSKA and associates had failed to join. The auditor later flagged lack of internal controls and its ability to continue as a going concern
Read about the resolutions passed and FY22 results revealed during Byju’s virtual annual general meeting (AGM). Get insights into the financial performance of the parent company and future plans.
The AGM was held at a crucial juncture, as the company navigates through a series of challenges, including being dragged to NCLT by BCCI and a delay in November salary payments for a segment of its employees
Amid the ongoing cash crunch at Byjus, founder and CEO Byju Raveendran told senior executives that he is aiming to address the crisis over the next 45-60 days.
Byju Raveendran, founder of educational technology (edtech) firm Byju's, has injected around Rs 4,000 crore of personal capital into the company in recent months. This move comes as the company grapples with challenges, including securing fresh capital, delays in financial reporting, and legal disputes with lenders. 'Raveendran has pledged personal property to assist the company in dealing with the crisis. 'He conveyed to employees that despite perceptions of being a billionaire, he has reinvested a major portion of his wealth back into the company,' said a person familiar with the matter.