News > Investor group accuses Byju’s of violating NCLT order

Investor group accuses Byju’s of violating NCLT order

On Tuesday, a group of investors in Byju’s claimed in the National Company Law Tribunal (NCLT) that the edtech firm violated the NCLT’s order preventing it from utilising proceeds from a rights issue and issuing shares to the issue’s subscribers without increasing its authorised share capital. This group, led by Dutch investor Prosus, seeks to block the $200 million rights issue and oust Byju’s founder Byju Raveendran as its chief executive.