NEW DELHI: A group of four investors of Byju’s has filed an oppression and mismanagement suit against the management of the company before the Bengaluru bench of the NCLT, seeking declaring of founders, including CEO Byju Raveendran, as unfit to run the company, and appointing a new board.
Besides, the suit has sought declaring the just concluded rights issue as void.
Investors, who are seeking the ouster of Raveendran and family from Byju’s board at an extraordinary general meeting of shareholders for alleged “mismanagement and failures” at what was once India’s hottest tech startup, have also sought a forensic audit of the company in the plea filed before the National Company Law Tribunal (NCLT) on Thursday evening, according to a court filing.
