byjus investors

A majority of investors in Byju’s parent Think & Learn (T&L) unanimously voted to remove founder Byju Raveendran as CEO and revamp the board, which includes wife and cofounder Divya Gokulnath and brother Riju Ravindran. All the resolutions that came up for vote at the online extraordinary general meeting (EGM) on Friday were passed, according to Prosus, one of the investors. It holds just 9.1% in the troubled edtech firm, having invested more than $500 million over the years. Elevate Your Tech Prowess with…

Investors in edtech firm Byju’s parent Think & Learn Pvt. Ltd who have called today’s extraordinary general meeting (EGM) have raised concerns over the management's failure to enforce the company’s rights related to the acquisition of Aakash Educational Services Ltd (AESL), besides agreeing to “onerous” and “prejudicial” loan terms with Davidson Kempner (DK), among other matters.They have demanded the ouster of founder Byju Raveendran and his family from leadership roles in the edtech firm, accused the company of…

Think & Learn Pvt Ltd, the parent of Byju's, said on Wednesday that the Karnataka High Court passed an interim order directing that any resolutions passed at Friday’s proposed extraordinary general meeting (EGM) would be contingent upon its final decision on a petition filed by the edtech firm.Byju's petitioned the court challenging the EGM called by a group of investors, who are seeking the removal of Byju Raveendran as its chief executive. The company claimed that by calling for an EGM, the investors violated the…

Amidst financial turbulence at Byju's, a group of key investors at the edtech have called for an extraordinary general meeting on Friday to oust its founder CEO Byju Raveendran and his family members over "mismanagement and failures" at what was once India's hottest tech startups, sources said. The shareholders, who have called the EGM, collectively hold more than 30 per cent stake in Byju's. Raveendran and family own about 26 per cent in the company. Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

The senior management of cash-strapped edtech firm Byju’s told employees that the company has secured commitments to subscribe to more than 100% of its proposed $200 million rights issue of shares.In an email note to employees Friday, the management blamed an “artificially induced crisis” by a select group of investors for a delay in paying the January salary. The salary will be paid in a phased manner starting Friday and will be completed by Monday, it said.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…