Byju’s Moves Karnataka HC Against NCLT Order Restraining Second Rights Issue

Bengaluru, India — Edtech giant Byju’s has filed a petition in the Karnataka High Court challenging a recent order by the National Company Law Tribunal (NCLT) that restrains the company from proceeding with its planned second rights issue. This legal move underscores the ongoing financial and operational challenges faced by the company amid increasing regulatory scrutiny and investor pressure. The NCLT, in its interim order, had prohibited Byju’s from initiating any further rights issues until the resolution of a dispute involving one of its shareholders. This decision comes at a critical juncture for Byju’s, which has been striving to raise additional funds to bolster its finances and sustain its aggressive growth trajectory. Background of the Dispute The shareholder dispute that led to the NCLT’s intervention revolves around allegations of mismanagement and lack of transparency in financial dealings by Byju’s management. This shareholder, whose identity remains confidential due to le

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