The Enforcement Directorate has upgraded its Look out Circular (LC) issued against Byju s founder and CEO Byju Raveendran in connection with a FEMA probe, seeking to stop him for going abroad.
The earlier such alert meant that immigration authorities had to just intimate the agency about his movements through various ports.
Official sources said that the over an year old LC was revised sometime back in light of investors concerns and ongoing adjudication of a FEMA contravention case against Raveendran and some others.
India News: NEW DELHI: Hardening its stand against edtech startup CEO Byju Ravindran, who had left for Dubai in Jan, ED has revised its lookout notice issued agai.
Karnataka HC refuses to stay BYJU s EGM on Feb 23 devdiscourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devdiscourse.com Daily Mail and Mail on Sunday newspapers.
Karnataka high court on Wednesday refused to stay an emergency shareholder meeting called by select investors of Think and Learn Pvt Ltd the owner of Byju s to oust the company s Founder and CEO Byju Raveendran and his family from the leadership in the edtech firm.
Byju s had approached the Karnataka HC seeking a stay on the EGM but the court only gave an interim relief that any resolution passed at the EGM on Friday cannot be implemented before the next court hearing. It is further submitted that the conditions for convening the Extraordinary General Meeting (EGM) are not complied and no notice is issued as contemplated under Section 100 (3) of the Companies Act 2013, the court order said.
Karnataka high court on Wednesday refused to stay an emergency shareholder meeting called by select investors of Think and Learn Pvt Ltd the owner of Byju s to oust the company s Founder and CEO Byju Raveendran and his family from the leadership in the edtech firm.
Byju s had approached the Karnataka HC seeking a stay on the EGM but the court only gave an interim relief that any resolution passed at the EGM on Friday cannot be implemented before the next court hearing. It is further submitted that the conditions for convening the Extraordinary General Meeting (EGM) are not complied and no notice is issued as contemplated under Section 100 (3) of the Companies Act 2013, the court order said.