Edtech major Byju's asks for 48 hrs to decide on selling or pledging shares

Quick Summary:

On May 29, the US-based lenders of Byju's urged the NCLT to restrain it from pledging, selling, or transferring its shares.

The firm also contended that it had sent a notice to the edtech company in this regard in December 2023.

The tribunal had designated July 3 as ‘Byju Day’ as nearly 10 petitions were expected to be heard that day against the edtech firm.

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Category: BusinessFinance

Markets: India

Topics: US-based lenders GLAS Trust Company Corporate insolvency Insolvency pleas NCLT Oppo National Company Law Tribunal Surfer Technologies

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-03 @ 19:14:06 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 347 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 21471811

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