BYJU's investors seek ouster of founders
New Delhi, Feb 1: Around six investors in Think and Learn Private Limited, which operates under BYJU's brand, have called for an extraordinary general meeting to address issues at the edtech major and oust founders from having control over the firm, sources aware of the development said.
The investors led by Dutch investment firm Prosus in the EGM notice have requested the resolution of the outstanding governance, financial mismanagement and compliance issues and the reconstitution of the Board of Directors.
"The resolutions being put forward for the EGM to consider include a request for the resolution of the outstanding governance, financial mismanagement and compliance issues, the reconstitution of the Board of Directors so that it is no longer controlled by the founders of T&L and a change in leadership of the Company," the notice sent to shareholders by the group of investors said.
According to a source, who did not wish to be identified, the notice has been backed by General Atlantic, Peak XV, Sofina, Chan Zuckerberg, Owl, and Sands, who jointly account for around 30 per cent stake in BYJU's.
As per the notice, a consortium of BYJU's shareholders had in July and December also requested the board of directors for the meeting but the same was disregarded.
BYJU's did not immediately respond to the query in this regard.
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Remarks against St Francis Xavier: Right-wing speaker Gautam Khattar gets bail
Panaji (PTI): A court in Goa on Saturday granted bail to right-wing speaker Gautam Khattar, who was arrested after he allegedly made derogatory comments against St Francis Xavier.
Judicial Magistrate First Class, Vasco, granted regular bail to Khattar, currently admitted to Goa Medical College and Hospital at Bambolim for treatment of chest pain after he was shifted from the District Hospital in Mapusa two days back.
A row erupted after a video of remarks by Khattar, the founder of Sanatan Mahasangh, at an event on April 18 in the presence of Swami Brahmeshanand, State Transport Minister Mauvin Godinho and BJP MLAs Sankulp Amonkar and Daji (Krishna) Salkar, went viral.
St Francis Xavier is revered as the patron saint of Goa.
The controversial remarks led to the Vasco Police registering an FIR against Khattar on charges of hurting religious sentiments and creating enmity between groups.
He was detained in Kullu, Himachal Pradesh, by local police. His custody was later handed over to the Goa Crime Branch, according to officials.
