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The National Company Law Tribunal has sought written submissions in three days from Byju’s and its investors, who had sought a stay against the company’s $200-million rights issue
Key investors who have called for an emergency meeting on 23 February said they will go ahead with seeking CEO Byju Raveendran’s ouster, among other things
On 1 February, top investors holding a combined 30% stake in Byju’s parent Think & Learn Pvt. Ltd called for an EGM to change the leadership, reconstitute the board, and address financial management and governance issues.
CNBC-TV18 reported on November 21 that the notice was sent to the parent company Think and Learn Pvt Ltd (TLPL) and the founder Byju Raveendran.
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