During Thursday s proceedings, the NCLT noted that it would be a “blatant violation” of its interim order dated February 27 if Byjus has issued shares to investors for the rights issue before completion of the increase in authorised share capital.
Forbes Billionaire Index 2024 highlights a drastic decline in Byju Raveendran s net worth, plummeting from ₹17,545 crore ($2.1 billion) to zero. This sharp downfall follows crises within his startup, Byju s, once valued at $22 billion. The company s financial woes, including a staggering net loss exceeding $1 billion, led to a significant devaluation, with BlackRock marking its worth at just $1 billion. Shareholders recently voted to remove Raveendran as CEO amidst ongoing challenges.
The dissenting investors Peak XV Partners, General Atlantic, Chan-Zuckerberg Initiative and Prosus will wait for the next hearing in the case at the National Company Law Tribunal on April 4
RG Stone, a chain of urology and laparoscopy hospitals in India, has initiated discussions with several private equity (PE) firms to raise capital and to ..