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The EGM has been called by a group of investors who are seeking to remove founder Byju Raveendran, his wife and brother from the board. The investors have flagged concerns about the management s failure to enforce the companys rights related to the acquisition of Aakash Institute. ....
The petition has been signed by four investors Prosus, GA, Sofina, and Peak XV along with support from other shareholders, including Tiger and Owl Ventures. ....
Byju s shareholders are set to conduct an emergency meeting today to decide on the ouster of CEO Byju Raveendran and his family as the board of directors. ....
Investors led by Prosus filed a petition at NCLT alleging oppression and mismanagement by the present management of Byjus. They seek to remove Raveendran as CEO, overhaul the board, conduct a forensic audit, and declare the rights issue invalid. ....