BYJU’S Struggles Continue: Salary Delays and Investor Battles Persist

By: Pratik gupta

BYJU’S faces second month of salary delays, now set for April 8, attributed to investor constraints.

1, Salary Delays:

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Foreign investors secure order restricting fund usage from rights issue, leading to salary suspension.

2,nvestor Constraints:

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February's salary delay linked to $200 million rights issue constraints, investors like Prosus and General Atlantic seek NCLT intervention.

3, NCLT Involvement:

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BYJU’S seeks credit line to meet salary commitments by April 8, plans to boost authorized capital for rights issue.

4, Credit Line Pursuit:

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BYJU’S seeks credit line to meet salary commitments by April 8, plans to boost authorized capital for rights issue.

5, Credit Line Pursuit:

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March 29 EGM aims to increase authorized capital, despite investor petition to halt, Tribunal declines.

6, EGM Proceedings:

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