Even as Raveendran, his co-founder and wife Divya Gokulnath, and his brother Riju Ravindran have all decided to sit out of the meeting, sources told Moneycontrol that the EGM will continue as planned.
Byju’s founder Byju Raveendran, his wife and co-founder Divya Gokulnath, and brother Riju Ravindran who together hold 26% of shares in the company will not participate in the EGM.
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
Today's extraordinary general meeting called by investors is likely to consider the ouster of Byju Raveendran, the founder of Byju's, and his family members, from the board of Think and Learn on account of financial crisis in the company.