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NCLT refuses to defer BYJU'S EGM over $200-million rights issue
short by Debaroti Adhikary / on Thursday, 28 March, 2024
National Company Law Tribunal (NCLT) on Thursday refused to defer troubled edtech startup BYJU'S extraordinary general meeting (EGM) scheduled for March 29 (Friday). The EGM is set to include a vote on increasing BYJU'S' authorised share capital related to the $200-million rights issue. BYJU'S investors had moved NCLT seeking a stay on the EGM and to block the rights issue.
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