Edtech giant Byju's challenges NCLT order in Karnataka High Court to access funds from its recent second rights issue.
Edtech giant Byju's challenges NCLT order in Karnataka High Court, aiming to access funds from its recent second rights issue. The NCLT directed the company to halt the rights issue and not use any cash raised through it. Byju's has faced multiple legal challenges, cash crunch, and a drop in valuation, with HSBC assigning zero value to Prosus' stake in the company. The firm is also exploring out-of-court settlements with creditors and facing legal challenges in the US.
June 23, 2024
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