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Face-off likely at EGM over plan to oust Byju’s CEO

Economic TimesEconomic Times · 9m
Face-off likely at EGM over plan to oust Byju’s CEO

Investors in edtech company Byju's have raised concerns about the management's handling of various issues, including the acquisition of Aakash Educational Services Ltd and the terms of a loan agreement with Davidson Kempner. They have called for the removal of founder Byju Raveendran and his family from leadership roles. The investors have accused the company of withholding important information, failing to complete audits, and breaching obligations. They also want more transparency regarding investigations by federal agencies and the terms offered to new investors. The management of Byju's denies the allegations and has obtained a stay on the implementation of any resolutions passed during an extraordinary general meeting.

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