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Byju Raveendran gets longer lifeline as Karnataka HC extends interim relief

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Byju Raveendran, founder of edtech company Byju's, has been allowed to continue as CEO by the Karnataka High Court. This comes amidst a dispute between the company and its investors, who had voted to remove Raveendran for mismanagement. The court extended an interim protection for Raveendran until 28 March, delaying access to funds raised through a rights issue. The investors have also sought a stay on the rights issue, and have accused Byju's of securing the court's protection through fraud. Byju's is facing financial difficulties and legal battles with its lenders.