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A group of four investors of Byju's filed an oppression and mismanagement suit against the management of the company in the Bengaluru bench of the NCLT, seeking declaring of founders, including CEO Byju Raveendran, as unfit; Byju's EGM Gets Underway; Raveendran Byju Skips, Investors File Suit in NCLT

An Extraordinary General Meeting (EGM) of Byju's shareholders got underway on Friday to vote on a resolution brought by some investors to ouster founder CEO Byju Raveendran and his family over alleged 'mismanagement and failures'. Raveendran and his family stayed away from the EGM, calling it 'procedurally invalid.'

The outcome of the vote at the EGM will not be applicable until March 13, when the Karnataka High Court will next hear Raveendran's plea challenging the move by certain investors

Earlier on Wednesday it was reported that Byju's rights issue for $200 million at a valuation cut of 99 per cent has been fully subscribed ahead of crucial EGM meeting on Friday.