Byju’s had favorable outcomes in two court hearings on Thursday, clearing the way for the edtech startup to proceed with its extraordinary general meeting planned for Friday. The National Company Law Tribunal declined to halt Byju’s planned EGM, which aims to increase the authorized share capital for a $200 million rights issue. The case will be reviewed again on April 4. The Karnataka High Court announced that it will address the investor group’s case seeking the removal of Byju’s founder and CEO, Byju Raveendran, in two months. The rights issue is crucial for Byju’s as it looks to utilize the $200 million received from investors, including Raveendran. Stay tuned for updates on this unfolding situation.
