{"id":11954,"date":"2024-03-28T08:33:46","date_gmt":"2024-03-28T08:33:46","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/03\/28\/nclt-refuses-to-stay-byjus-egm-over-200-million-rights-issue\/"},"modified":"2024-03-28T08:33:46","modified_gmt":"2024-03-28T08:33:46","slug":"nclt-refuses-to-stay-byjus-egm-over-200-million-rights-issue","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/03\/28\/nclt-refuses-to-stay-byjus-egm-over-200-million-rights-issue\/","title":{"rendered":"NCLT refuses to stay Byju\u2019s EGM over $200 million rights issue"},"content":{"rendered":"
\"NCLT<\/div>


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The National Company Law Tribunal (NCLT<\/a>), Bengaluru, did not grant a stay on Byju\u2019s extraordinary general meeting (EGM) on March 29 to increase the firm\u2019s authorised share capital with regards to the $200 million rights issue. <\/p>\n

Investors<\/a> of Byju\u2019s parent Think & Learn, led by Prosus, had moved NCLT seeking a stay on the planned EGM and block the rights issue.<\/p>\n

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The tribunal, during Thursday\u2019s hearing, said it won\u2019t put a stay on the EGM and the matter will be heard next on April 4. The tribunal also directed Byju\u2019s to share all the relevant information sought by investors linked to the company financials including the rights issue.<\/p>\n

Byju\u2019s has said its $200 million rights issue \u2013at a 99% discount to its peak valuation of $22 billion\u2013has been fully subscribed. A group of investors have locked horns with the company over the fundraise and are seeking the removal of company founder Byju Raveendran as CEO along with a change in board. Raveendran\u2019s wife and cofounder Divya Gokulnath and his brother Riju Ravindran are the other members of Think & Learn\u2019s board. <\/p>\n

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Discover the stories of your interest<\/h3>\n<\/div>\n
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The National Company Law Tribunal (NCLT), Bengaluru, did not grant a stay on Byju\u2019s extraordinary general meeting (EGM) on March 29 to increase the firm\u2019s authorised share capital with regards to the $200 million rights issue. Investors of Byju\u2019s parent Think & Learn, led by Prosus, had moved NCLT seeking a stay on the planned […]<\/p>\n","protected":false},"author":2,"featured_media":11955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[17235,8076,17237,11081,2458,17236,5687,307,125],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/11954"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=11954"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/11954\/revisions"}],"predecessor-version":[{"id":11956,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/11954\/revisions\/11956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/11955"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=11954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=11954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=11954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}