🚀 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
Karnataka High Court Defers Any Resolutions Passed Till March 13 - StartupNews.fyi
Startup News FYI
·
1y ago
Medial
The Karnataka High Court has ruled that any decisions taken by shareholders at BYJU'S extraordinary general meeting (EGM) will not come into effect until the next hearing on March 13. The court's interim order didn't specifically invalidate the EGM or resolutions passed during the meeting, but provided temporary relief for the edtech giant. BYJU'S investors have called the EGM to remove CEO Byju Raveendran, his wife Divya Gokulnath, and brother Riju Ravindran from the company's board and gain control of the business. BYJU'S has faced various challenges recently, including mass layoffs and legal battles.
View Source
Related News
BYJU’S EGM: Investors Vote To Remove CEO Byju Raveendran, But Matter Pending With Karnataka HC
Inc42
·
1y ago
Medial
During an extraordinary general meeting (EGM) held by BYJU'S, shareholders passed all resolutions unanimously, including the request for resolving governance and financial mismanagement issues, board reconstitution, and a change in leadership. However, BYJU'S maintained that the EGM itself was invalid, citing technical glitches, procedural irregularities, and a narrow group of shareholders passing the resolutions. The matter is now with the Karnataka High Court, which is expected to make a decision on March 13, 2024. If the court upholds the investors' position, BYJU'S may see a new CEO and board in the future.
View Source
ETtech Explainer: What to know about Byju’s boardroom battle and shareholder resolutions
Economic Times
·
1y ago
Medial
At an extraordinary general meeting (EGM), Byju's shareholders voted to remove founder Byju Raveendran as CEO and restructure the board. The resolutions passed by the shareholders addressed governance, financial mismanagement, and compliance issues. Shareholders called for a new board composition and change in leadership. However, Byju's claims the resolutions are invalid due to lack of necessary quorum. The matter will be heard by the Karnataka High Court on March 13. Additionally, investors have filed a petition in the National Company Law Tribunal to block a $200-million rights issue, alleging lack of transparency.
View Source
Byju's future hangs in balance as Karnataka HC readies to hear case on March 13
Livemint
·
1y ago
Medial
The future of India's edtech giant, Byju's, is at stake as the Karnataka High Court prepares to address investor concerns over the removal of the CEO and board members. Byju's argues that the extraordinary general meeting (EGM) held by Think and Learn Pvt Ltd, the company's parent, was a disruptive move designed to hinder its operations. With ongoing legal battles against investors, lenders, and vendors, Byju's is facing mounting challenges. The court hearing on March 13 will determine the validity of the resolutions passed during the EGM.
View Source
Relief For BYJU’S: K’taka HC Extends Stay On Resolutions Passed At EGM
Inc42
·
1y ago
Medial
The Karnataka High Court has extended the stay on the implementation of resolutions passed by BYJU's investors at the company's EGM. As a result, BYJU's founder, Byju Raveendran, will continue to lead the company. This is the third successive stay ordered by the court on the implementation of these resolutions.
View Source
BYJU’S EGM: Karnataka High Court Defers Any Resolutions Passed Till March 13
Inc42
·
1y ago
Medial
The Karnataka High Court has ruled that decisions made by the shareholders of edtech giant BYJU'S at an upcoming extraordinary general meeting (EGM) will not come into effect until the next hearing on March 13. The court was hearing a petition filed by BYJU'S against its own investors, with shareholders calling for the removal of CEO Byju Raveendran and his family members from the company's board. While the court has not specifically invalidated the EGM, it has stated that no decisions taken can be put into effect until the next hearing.
View Source
BYJU’S At War: Here Are The Resolutions Passed By Investors At Extraordinary General Meeting
Inc42
·
1y ago
Medial
The extraordinary general meeting (EGM) of BYJU'S, chaired by Prosus representative Gunjan Shukla, saw the investor group comprising Prosus, PeakXV, General Atlantic, Sofina, Chan Zuckerberg Initiative, and Sands Capital vote to remove Byju Raveendran as CEO. However, BYJU'S stated that the EGM did not have the required quorum and any resolutions passed remain ineffective. The validity of the EGM and resolutions will now be determined by the NCLT and Karnataka High Court. The investor group aims to make changes to the board structure, appoint a forensic expert, remove Raveendran, and appoint an interim CEO. No immediate implications are expected.
View Source
Byju's VS Investors: Karnataka HC extends stay on resolution passed at Byju's EGM till March 28
IndianStartupNews
·
1y ago
Medial
Karnataka High Court has extended the interim protection for Byju Raveendran, CEO of Byju's, against resolutions passed during an extraordinary general meeting (EGM). The court's decision delays the potential ousting of Raveendran and his family members until March 28. This comes amidst a legal battle with investors, who have accused Byju's of obtaining the interim order fraudulently. Both sides have made allegations against each other, prompting the court to instruct Byju's to formally document the accusations. Additionally, the National Company Law Tribunal is hearing cases against Byju's, including an insolvency plea by the BCCI.
View Source
Byju’s to hold EGM on March 29 for increasing the authorised share capital
Thehindubusinessline
·
1y ago
Medial
Edtech company Byju's has called for an extraordinary general meeting (EGM) on March 29 to increase its authorized share capital. This is in relation to the $200 million rights issue recently agreed upon. However, four investors have filed a petition against the company for alleged oppression and mismanagement, leading to an injunction on the EGM being requested from the National Company Law Tribunal. Byju's has also approached the Karnataka High Court for a stay on the EGM decision. The court has extended an interim order preventing the implementation of any EGM resolutions.
View Source
Byju's call shareholders move to oust CEO Raveendran 'invalid'
Livemint
·
1y ago
Medial
Shareholders of Indian edtech company Byju's attempted to remove founder and CEO Byju Raveendran during a meeting, but the resolutions were deemed null and void due to the absence of Raveendran and his family members. The meeting was attended by several investors, including Prosus, General Atlantic, Sofina, and Peak XV Partners. Prosus, the second-largest stakeholder in Byju's, confirmed the passing of all resolutions and plans to present the outcome to the Karnataka High Court. Byju's had sought relief from the court prior to the meeting, and any resolutions are currently ineffective until a subsequent hearing.
View Source
Byju’s denies financial irregularities, says ‘not privy to any report by MCA’
Thehindubusinessline
·
1y ago
Medial
India's edtech giant Byju's has denied any financial irregularities following reports that the Ministry of Corporate Affairs (MCA) has submitted a report on alleged violations and irregularities. Byju's stated that it has not seen the report, but confirmed there are no financial irregularities in the company. The MCA's investigation arm has reportedly alleged over a dozen Companies Act violations. Separately, Byju's shareholders obtained an interim order from the Karnataka High Court preventing resolutions passed at an extraordinary general meeting in February from being implemented, as well as four investors challenging a $200m rights issue through the National Company Law Tribunal.
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
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
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
/indianstartupnews/media/agency_attachments/s1FnhAYONODoxNkoC8xA.png)
