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🚨 JUST IN NCLT order Byju's asked to keep proceeds of rights issue in escrow, consider extending closure date of rights issue Via @thyagarajan_law
Byju’s US lenders invoke parent company's guarantee in insolvency proceedings The National Company Law Tribunal told Byju’s to respond to two separate insolvency petitions filed against the troubled edtech firm by US lenders and BCCI. https://t.co/yMrk1uxMJA
Sources Say | Byju's to formally close $200 mn equity rights sale today #Byjus #ByjuRaveendran #NCLT https://t.co/mt7AYECDid
Byju's, India's most valuable startup in '23 worth $22 billion, faces investor reps quitting due to lack of financial data access. A $200 million rights issue is under legal scrutiny. Byju's investors seek a stay on the rights issue, citing breach of laws. Byju's to close $200 million equity rights sale. Byju's US lenders invoke guarantee in insolvency proceedings. NCLT orders Byju's to keep rights issue proceeds in escrow and consider extending closure date.
