🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Byju's investors unanimously vote to remove founder
TechCrunch
·
1y ago
Medial
Investors in Byju's, the Indian edtech startup, have voted to remove the company's founder and CEO Byju Raveendran. They have also filed a lawsuit against the leadership to halt a recent rights issue. The move comes after some investors raised concerns about governance, financial mismanagement, and compliance at the company, which was once the most valuable in India. Byju's has questioned the legitimacy of the resolutions passed and stated that only a small group of shareholders attended the meeting. The startup had planned to go public through a SPAC deal, but ultimately had to abandon the plan.
View Source
Related News
Byju’s investors unanimously vote to oust CEO Raveendran, revamp board
Livemint
·
1y ago
Medial
Education technology company Byju's has seen an emergency meeting called by investors result in votes to remove CEO Byju Raveendran and revamp the board, with the company dismissing the resolutions as invalid. The meeting saw shareholders unanimously pass the resolutions, with the second-largest stakeholder, Netherlands-based Prosus, stating its confidence in their outcome. Byju's argued the resolutions were non-binding and required the presence of at least one founder-director. The move signals a further breakdown of the relationship between Byju's and its investors, which has worsened since the announcement of a rights issue that could dilute non-participating investors' shareholdings by 99%.
View Source
Everything You Need To Know About Byju Raveendran’s Battle With Investors - StartupNews.fyi
Startup News FYI
·
1y ago
Medial
The management of BYJU'S, the edtech giant, is in a standoff with investors who are vying to reconstitute the company's board and remove founder Byju Raveendran and his family members from their positions. A temporary relief came from the Karnataka High Court, stating that decisions made at the upcoming extraordinary general meeting (EGM) will not be implemented until at least March 13. Despite this, the EGM is set to proceed, with many investors expected to vote in favor of Raveendran's removal. The battle for control of BYJU'S continues to unfold rapidly.
View Source
Byju's EGM Gets Underway; Raveendran Byju Skips, Investors File Suit In NCLT
OutlookIndia
·
1y ago
Medial
An Extraordinary General Meeting (EGM) of Byju's shareholders was held to vote on a resolution to remove founder CEO Byju Raveendran and his family over allegations of mismanagement. Raveendran and his family did not attend the meeting, calling it "procedurally invalid." Prior to the EGM, a group of investors filed a lawsuit against the management, seeking the appointment of a new board, declaring a recent rights issue as void, and a forensic audit of accounts. The outcome of the vote will be decided on March 13, when the Karnataka High Court hears Raveendran's plea challenging the move by investors.
View Source
BYJU’S shareholders call for leadership change at EGM
Inshorts
·
1y ago
Medial
At BYJU'S' extraordinary general meeting (EGM), shareholders unanimously passed all resolutions, including calling for a change in the leadership as well as reconstitution of the Board. However, BYJU'S has asserted that the resolutions passed during the EGM are invalid and ineffective. Founder and CEO Byju Raveendran, Co-founder Divya Gokulnath, and his brother Riju Ravindran did not participate.
View Source
Byju's shareholders to vote on resolution to ouster CEO, family on Friday
Economic Times
·
1y ago
Medial
Shareholders of Indian edtech startup Byju's are voting on a resolution to remove founder and CEO Byju Raveendran and his family from the company. The vote outcome will be decided on March 13, pending a court hearing challenging the move. The EGM notice cites allegations of mismanagement, failures, financial mismanagement, erosion of value, and concealment of information. Byju's has faced setbacks recently, including financial strain after the pandemic, an auditor's resignation, bankruptcy proceedings, and a US lawsuit. Raveendran has expressed a commitment to transparency and board restructuring to address investor concerns.
View Source
Battle For BYJU’S: Byju Raveendran & Family To Skip EGM
Inc42
·
1y ago
Medial
BYJU'S founder and CEO, Byju Raveendran, and his family will not attend an extraordinary general meeting (EGM) called by the company's investors on February 23. The investors plan to oust Raveendran and take control of the company's board. BYJU'S stated that the EGM is invalid and in violation of their articles of association and shareholders' agreement, and that it would not have the required quorum to vote on the meeting's agenda. The company's investors are also considering legal action if the resolutions are not successful. BYJU'S has faced various controversies including layoffs and financial difficulties.
View Source
Byju's founder floats share offer to make peace with estranged investors
TechCrunch
·
1y ago
Medial
Byju Raveendran, the founder of Byju's, is attempting to appease disgruntled investors by considering an offer of renounced shares to prevent dilution of their holdings. The startup's board is weighing this option despite the legal actions taken by some investors who seek to remove Raveendran and invalidate a recent rights issue. Byju's is currently facing concerns about its governance practices and the delay in producing financial accounts. Raveendran expressed his commitment to the company and hopes that investors will continue their journey with Byju's.
View Source
Byju's seeks arbitration in dispute with investors; NCLT adjourns hearing to April 23
Economic Times
·
1y ago
Medial
The National Company Law Tribunal (NCLT) in Bengaluru has adjourned the Byju's versus investors case to April 23. A group of Byju's investors, led by Prosus, is trying to block a $200 million rights issue and remove founder Byju Raveendran as CEO. Byju’s has filed a plea to transfer the matter to arbitration. The NCLT noted that it would be a "blatant violation" if Byju's had issued shares to investors for the rights issue before increasing authorized share capital. The case will continue with further filings by both parties.
View Source
Byju Raveendran gets longer lifeline as Karnataka HC extends interim relief
Livemint
·
1y ago
Medial
Byju Raveendran, founder of edtech company Byju's, has been allowed to continue as CEO by the Karnataka High Court. This comes amidst a dispute between the company and its investors, who had voted to remove Raveendran for mismanagement. The court extended an interim protection for Raveendran until 28 March, delaying access to funds raised through a rights issue. The investors have also sought a stay on the rights issue, and have accused Byju's of securing the court's protection through fraud. Byju's is facing financial difficulties and legal battles with its lenders.
View Source
Byju's drags investors to court, HC grants relief ahead of EGM
Economic Times
·
1y ago
Medial
Byju's parent company, Think & Learn, is involved in a legal battle with investors who want to remove founder Byju Raveendran and his family from the board. The Karnataka high court has issued an interim order invalidating any resolutions made at the Friday extraordinary general meeting (EGM) until Byju's petition against the investors is heard. Meanwhile, Byju's has informed shareholders that its $200 million rights issue is fully subscribed. Raveendran has proposed restructuring the board and appointing two non-executive directors, aiming to increase shareholder representation and enhance engagement.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
Aug 2025
Jurifly
Build. Comply. Fund. Fly.
FloatFi App
Crypto to INR payments app for Indians
ForkMyCV
Your CV, Done Right.
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
