Breaking News: Founder and family of Byju’s to not attend EGM, call it invalid
Mumbai: Describing an extraordinary general meeting called by the investors as “procedurally invalid", the founder family of Think & Learn, the parent company of Byju’s, said founder and CEO Byju Raveendran and other board members will not attend it.
People with knowledge of the consortium of investors’ plans said the EGM will be held. It has been called by key shareholders on 23 February to take stock of the liquidity situation and to oust Raveendran as CEO.
"This EGM is procedurally invalid, contractually in contravention of our AOA and SHA, legally on the wrong side of the Companies Act, 2013. Byju Raveendran or any other Board member will not attend this invalid EGM. This means the EGM, if it is still summoned, will...
