🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

News on Medial

NCLT declines to stay EGM called by troubled Byju's over $200 million rights issue

IndianStartupNews

IndianStartupNews · 1y

NCLT declines to stay EGM called by troubled Byju's over $200 million rights issue

The National Company Law Tribunal (NCLT) has rejected a plea to halt BYJU'S upcoming extraordinary general meeting (EGM) scheduled for March 29. The EGM is important for BYJU'S as it aims to increase its authorized share capital for a $200 million rights issue. The decision comes amidst ongoing legal battles and allegations of oppression and mismanagement from some of the company's investors. The NCLT stated that decisions made at the EGM can be challenged, but not stopped beforehand, and directed BYJU'S to keep the proceeds from the rights issue in a separate escrow account.

1

Comments

More Like this

NCLT refuses to stay Byju’s EGM over $200 million rights issue

NCLT refuses to stay Byju’s EGM over $200 million rights issue

NCLT refuses to stay Byju’s EGM over $200-million rights issue

NCLT refuses to stay Byju’s EGM over $200-million rights issue

BYJU'S calls EGM on March 29 to increase authorised share capital

BYJU'S calls EGM on March 29 to increase authorised share capital

NCLT Refuses To Stall BYJU’s EGM On $200 Mn Rights Issue

NCLT Refuses To Stall BYJU’s EGM On $200 Mn Rights Issue

Byju's secures over 50% votes to increase authorized share capital

Byju's secures over 50% votes to increase authorized share capital

Byju's may get out of cash crunch as NCLT refuses to defer March 29 EGM

Byju's may get out of cash crunch as NCLT refuses to defer March 29 EGM

Byju’s secures 50% votes for rights issue, offers battling investors to participate in funding

Byju’s secures 50% votes for rights issue, offers battling investors to participate in funding

Byju’s to hold EGM on March 29 for increasing the authorised share capital

Byju’s to hold EGM on March 29 for increasing the authorised share capital

NCLT refuses to stay Byju's EGM to increase its authorised share capital

NCLT refuses to stay Byju's EGM to increase its authorised share capital

Karnataka HC extends interim stay on Byju's EGM till March 28

Karnataka HC extends interim stay on Byju's EGM till March 28

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...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

May 2025

GenAlpha masters STEM with Cinderella & Ganesha.

Bringing hope to life, one thought at a time.

PenseeWeb Studios

When Study Apps Failed, We Built Our Own System

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.