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.
Will Byju s investors fire founder Byju Raveendran from the ed-tech firm today? – Firstpost firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.
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
Days ahead of a decisive extraordinary general meeting, Byju Raveendran wrote a letter to shareholders informing them that the edtech firms rights issue has been fully subscribed. Details of this and more in todays ETtech Top 5.