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Investors, who are seeking the ouster of Raveendran and family from the Byju's board at an extraordinary general meeting of shareholders for alleged "mismanagement and failures" at what was once India's hottest tech startup, have also sought a forensic audit of the company
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.'
A group of four investors of Byju's has filed an oppression and mismanagement suit against the management of the company before the Bengaluru bench of the NCLT, seeking declaring founders, including CEO Byju Raveendran, as unfit to run the company, and appointing a new board. Besides this, the suit has sought to declare the just concluded rights issue as void.
Byju's crisis: Investors are seeking the ouster of Byju Raveendran and family from the board of the company at an extraordinary general meeting of shareholders.