Key Points
The Karnataka High Court on July 2 rejected the National Company Law Tribunal (NCLT) order that restrained embattled Byju's from launching a second rights issue...
On Tuesday, Justice Krishna Kumar of the Karnataka High Court said he was sending the case back to the NCLT for a fresh consideration..
Investors, such as Peak XV Partners, General Atlantic, Chan-Zuckerberg Initiative, and Prosus, submitted a request to the National Company Law Tribunal (NCLT) to stop Byjus' second rights issue..
"This Tribunal hereby restrains the Respondents (Byju's) from going ahead with the present rights issue which is in progress, till the disposal of the main plea..
The Respondents are further directed to keep the amounts collected so far since the opening of the second rights issue in relation to this offer in a separate account which should not be utilised till the disposal of the main petition," the NCLT order of June 12 read...
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