NCLT asks Byju's to keep proceeds of rights issue in escrow account!
Wed, Feb 28, 2024 7:41 PM

NCLT asks Byju's to keep proceeds of rights issue in escrow account!

A Flip by Avya Verma
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The National Company Law Tribunal (NCLT) in its order passed on February 27 has directed ed tech company Byju's to keep funds received from the rights issue in an escrow account till the disposal of the oppression and mismanagement plea filed by four of the company's investors. The tribunal has further directed Byju's to "consider the extension of the closure date of the right issue.

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