NCLT Refuses To Defer Byju's EGM To Raise Capital Via Rights Issue | Companies News
Last month, the NCLT directed Byjus to keep funds received from the rights issue in an escrow account till the disposal of the case.
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Last month, the NCLT directed Byjus to keep funds received from the rights issue in an escrow account till the disposal of the case.
The court also cited a Supreme Case judgment to conclude that since the only objective is to increase the authorised capital for the rights issue, there is no reason to pause or postpone the EGM.
In a breather for embattled edtech company Byju's, the National Company Law Tribunal (NCLT) on Thursday refused to stay the extraordinary general meeting (EGM) called by the board of directors to raise the capital via the rights issue.The ...
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