Byju's investors accuse the edtech company of violating NCLT orders on rights issue usage; NCLT postpones hearing to June 6.
Byju's investors, including Peak XV Partners, General Atlantic, Chan-Zuckerberg Initiative, and Prosus, have accused the edtech company of violating NCLT orders on rights issue usage. Byju's denies the allegations. The NCLT had directed the company to keep the rights issue funds in an escrow account and maintain the status quo on shareholding. The Bengaluru Bench of the NCLT postponed the hearing of the investors' allegations to June 6.
April 23, 2024
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