Page 5 - Latest Updates on Byju Raveendran
Controversy over EGM results adds to edtech major Byju's troubles
The meeting was called by some leading investors such as Prosus and General Atlantic and there were seven resolutions at the EGM
 "Controversy over EGM results adds to edtech major Byju's troubles")
The spectacular flameout of Byju's
Byju Raveendran set up Think & Learn in 2011, got his first funding in 2013 and launched The Learning App in 2015, which became a case study at Harvard Business School
 "The spectacular flameout of Byju's")
Edtech major Byju's faces long legal battle as CEO digs in heels: Experts
This may also negatively impact the edtech giant's operations and market reputation, according to industry sources and legal experts
 "Edtech major Byju's faces long legal battle as CEO digs in heels: Experts")
Will continue as CEO of Byju's, EGM a farce: Raveendran tells employees
Raveendran also told employees that he is not taking any of the investor allegations lying down and will challenge these illegal and prejudicial actions, according to a letter sent to the staff
 "Will continue as CEO of Byju's, EGM a farce: Raveendran tells employees")
Continue to remain CEO; rumours of my firing inaccurate: Byju Raveendran
In a note to employees on Saturday, Raveendran alleged that a lot of essential rules were "violated" at Friday's Extraordinary General Meeting (EGM)
 "Continue to remain CEO; rumours of my firing inaccurate: Byju Raveendran")
Byju's EGM: Investors vote to remove CEO Byju Raveendran from board
Company calls resolutions at EGM 'invalid'; shareholders move NCLT
 "Byju's EGM: Investors vote to remove CEO Byju Raveendran from board")
Byju's EGM: Shareholders vote to remove CEO Raveendran and his family
Raveendran and his family stayed away from the EGM, calling it 'procedurally invalid'
 "Byju's EGM: Shareholders vote to remove CEO Raveendran and his family")
Byju's EGM gets underway: Raveendran skips, investors file suit before NCLT
The outcome of the vote at the EGM will not be applicable until March 13, when the Karnataka High Court will next hear Raveendran's plea challenging the move by certain investors
ED upgrades look out circular against Byju Raveendran in Fema probe
Official sources said that the over an year old LC was revised sometime back in light of investors' concerns and ongoing adjudication of a FEMA contravention case against Raveendran and some others
 "ED upgrades look out circular against Byju Raveendran in Fema probe")
Byju's founder, his family won't attend EGM called by investors on Feb 23
The current board of Byju's parent, Think and Learn, including Raveendran, his wife and Byju's co-founder Divya Gokulnath, and his brother Riju Ravindran will also not attend the EGM
ED seeks look out circular against Byju Raveendran amid ongoing probes
Enforcement Directorate has urged the Bureau of Immigration for renewed travel restrictions to safeguard investor interests in the Byju's FEMA violation probe
 "ED seeks look out circular against Byju Raveendran amid ongoing probes")
K'taka HC grants relief to Byju's; calls resolutions passed in EGM invalid
The edtech firm said this development marks a significant victory for edtech firm, with court recognizing urgent need to protect the company's interests and uphold the principles established by law
 "K'taka HC grants relief to Byju's; calls resolutions passed in EGM invalid")
Committed to restructuring board: Raveendran tells Byju's shareholders
To increase shareholder representation, the CEO of the embattled edtech firm committed to restructuring the Board and appointing two non-executive directors
Byju's crisis: Employees share stories of uncertainty, financial strain
Some say they have moved to other edtech firms at lower salaries; some have exited the sector
 "Byju's crisis: Employees share stories of uncertainty, financial strain")
Byju Raveendran says company's $200 million rights issue fully subscribed
Raveendran said that Byju's will appoint a third-party agency to monitor the usage of funds raised in the rights issue
Edtech major Byju's rights issue gets $300 million commitment: Report
BYJU'S floated a rights issue in January to raise USD 200 million through equity rights issue at an enterprise valuation in the range of $220-250 million
Netflix's monetisation model may just save India's online learning apps
The Physics Wallah app has 2 million users logging in daily and spending 80 minutes
 "Netflix's monetisation model may just save India's online learning apps")
UpGrad's founder blames Raveendran, investors for current state of Byju's
Speaking at the second edition of the ASU+GSV & Emeritus Summit in Gurugram, he emphasized that "one rotten apple" should not affect the entire edtech sector
 "UpGrad's founder blames Raveendran, investors for current state of Byju's")
Seeking a change of guard: Key investors likely to drag Byju's to NCLT
Earlier this month, these shareholders had issued a notice calling for an EGM to address "persistent issues", including a change in management
Byju's controversies: The troubles hurting India's biggest edtech company
How did Edtech firm fall from the grace that it once enjoyed with the valuation peaking at $22 billion. Explained
 "Byju's controversies: The troubles hurting India's biggest edtech company")
