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Keep Proceeds From Rights Issues In Escrow Account, Consider Extension Of Issue: NCLT To BYJU’S

Inc42 · 1y

The National Company Law Tribunal (NCLT) has ordered BYJU'S to keep the proceeds from its rights issue in a separate escrow account and consider extending the closure date of the rights issue. This order comes in response to a petition filed by a group of investors including Prosus, Peak XV Partners, General Atlantic, and Sofina. The NCLT has also asked relevant authorities to submit their replies within two weeks. The next hearing for the case is scheduled on April 4th.