The big 4 investors in Byjus – who raised allegations of siphoning off funds and mismanagement by Raveendran in NCLT – have now knocked on the doors of the SC. The move to the apex court comes at a time when SC is hearing an insolvency plea against edtech company, filed by a consortium of American lenders.
The investors before the SC include – General Atlantic, Peak XV, Sofina SA, MIH Edtech Investments (Prosus subsidiary). They together account for over 25% of the shareholding in the Ed Tech company.
The court was scheduled to hear the insolvency case today. In light of the latest batch of intervention applications, it has now deferred the hearing to Aug 30. The SC is hearing an insolvency application, by US lenders, against…
