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Four investors — led by Prosus — moved the NCLT, seeking a stay on the planned EGM to effectively block the rights issue. The matter will now be heard on April 4.
The government notified the new Angel Tax rules on Tuesday, retaining the five valuation methodologies suggested in the draft rules. The rules aim to fix the fair market value of startups.
According to the sources cited in the report, Byju's and the group of lenders have agreed to work collaboratively toward a signed and completed term loan amendment by August 3, 2023.
Edtech Byju's has announced to lay around 500-1000 employees in an attempt to cut costs, initiated by the company to streamline operations.
Byju's Layoffs: Byju's is cutting its workforce, but might "rehire" employees if they fail to secure a new job in 12 months, the edtech company told Business Today.