The court allowed the appeals filed by the Registered Unaided Private Schools Association that challenged the interim order passed by the division bench of the High Court on March 7.
Earlier in the day, the investors argued that the process adopted by Byju’s for its $200 million rights issue is “in breach of laws”. They said that the board of directors had to call an Extraordinary General Meeting (EGM) of shareholders before the rights issue so that they could vote.
In doing so, the Karnataka High Court overruled a previous single-judge verdict passed in 2014 in connection with the Nadaprabhu Kempe Gowda Layout in Bengaluru.
In doing so, the Karnataka High Court overruled a previous single-judge verdict passed in 2014 in connection with the Nadaprabhu Kempe Gowda Layout in Bengaluru.