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Byju's rights issue closes today, top investors likely to give it a miss

The issue has been fully subscribed, CEO Byju Raveendran had said in a letter to shareholders ahead of the February 23 EGM ....

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Byju's NCLT hearing: Investors allege over $500 mn diversion to hedge fund

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.
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NCLT reserves order on Byju's rights issue; Meity tweaks IT rules

Byjus and a group of its investors have been given three days by the National Company Law Tribunal to file written submissions on a plea about the edtech firms rights issue. This and more in todays ETtech Morning Dispatch. ....

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NCLT Bengaluru issues notice to Byju's on insolvency plea by international lender

A US-based lending company submitted today that Byju's had defaulted in payment of over ₹8,000 crore. ....

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NCLT asks Byju's to consider extending rights issue closure date | Business News

In a February 27 interim order, the NCLT said the funds received by the company in respect to the rights issue should be kept in a separate escrow account and it should not be withdrawn till the disposal of the matter. ....

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