The National Company Law Tribunal has stayed the second rights issue of Byju’s brand parent Think & Learn. Byju’s has been asked to provide full details of its shareholders before and after the allotment of shares under the first tranche of the rights issue on March 2.
The National Company Law Tribunal (NCLT) has stayed the rights issue of edtech firm and Byju’s brand parent Think & Learn, which began on May 11, effectively halting the process of maintaining status quo. The NCLT has directed to maintain the status quo.
In its June 12 order to Byju’s, the Bengaluru bench of the NCLT has asked it to submit full details of its shareholders before and after the allotment of equity on March 2 as per the first tranche of the rights issue.
