NCLT refuses to stay Byju's EGM on rights issue
NCLT refused stay on Byju's EGM for $200M rights issue. Need 50% votes to raise share capital. Cash crunch causing salary delays. Court-approved fund stay. Investors: Prosus, Peak XV Partners, General Atlantic, Sofina. Funds escrowed. Allegations of fund siphoning under investigation.
NCLT refused stay on Byju's EGM for $200M rights issue. Need 50% votes to raise share capital. Cash crunch causing salary delays. Court-approved fund stay. Investors: Prosus, Peak XV Partners, General Atlantic, Sofina. Funds escrowed. Allegations of fund siphoning under investigation. What's Your Reaction?
