27 August 2024
Five foreign investors of debt-ridden Think & Learn, the parent of online educational services company Byju's, have moved the Supreme Court seeking intervention in the ongoing case filed by US lender GLAS Trust Co LLC against setting aside of the insolvency proceedings against Byju’s and restoration of its board by the National Company Law Appellate Tribunal (NCLAT).
General Atlantic Singapore TL Pte Ltd, Peak XV Partners Investments IV, Peak XV Partners Investments V, Sofina S.A., and MIH Edtech Investments, which together hold 16.75% of the issued and paid-up share capital of the company, have alleged “persistent acts of oppressive opacity, repeated violation of law and corporate governance norms, and gross mismanagement by the founders in managing the affairs of the company.”
Five foreign investors of debt-ridden Think & Learn, the parent of online educational services company Byju's, have moved the Supreme Court seeking intervention in the ongoing case filed by US lender GLAS Trust Co LLC against setting aside of the insolvency proceedings against Byju’s and restoration of its board by the National Company Law Appellate Tribunal (NCLAT).
General Atlantic Singapore TL Pte Ltd, Peak XV Partners Investments IV, Peak XV Partners Investments V, Sofina S.A., and MIH Edtech Investments, which together hold 16.75% of the issued and paid-up share capital of the company, have alleged “persistent acts of oppressive opacity, repeated violation of law and corporate governance norms, and gross mismanagement by the founders in managing the affairs of the company.”
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