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The Karnataka High Court on Wednesday ordered that any resolutions, proposed to be passed in the Friday meeting called by select Byju's investors to remove its founder Byju Raveendran as CEO and appoint a new board, are invalid until the final hearing and disposition of this petition.
The Supreme Court has referred to the larger bench the question of whether the courts have the power to modify the arbitral award under Sections 34 or 37 of the Arbitration and Conciliation Act, 1996....
Key investors in edtech major Byju's will go ahead with the extraordinary general meeting (EGM) on Friday for a vote to remove Byju Raveendran as the company's CEO, despite a court order that any decision, taken during the EGM, "shall not ...
The edtech major had filed the petition under Section 9 of The Arbitration and Conciliation Act, 1996.
Sources told IANS on Thursday that the majority of investors are set to vote in favour of Raveendran’s removal from the company which is facing regulatory hurdles amid cash crunch. �� Byju's Crisis: Key Investors To Go Ahead With Extraordinary General Meeting for Vote To Oust Byju Raveendran As Company's CEO Amid Court Order.