The order by the special coram restrained Byju’s from proceeding with its second rights issue till the main petition of the four investors is disposed of.
It also directed the company to maintain status quo with regard to the existing shareholders till final disposal.
“This Tribunal hereby restrains Byju’s from going ahead with the present rights issue which is in progress till the disposal of the main petition.
They are further directed to keep the amounts collected so far since opening of the second rights issue in relation to this offer in a separate account which should not be utilised till the disposal of the petition.
Further, status quo with regard to existing shareholders and their shareholding shall be maintained till the disposal of the main petition,” the order said.
The order by the special coram restrained Byju’s from proceeding with its second rights issue till the main petition of the four investors is disposed of.
It also directed the company to maintain status quo with regard to the existing shareholders till final disposal.
“This Tribunal hereby restrains Byju’s from going ahead with the present rights issue which is in progress till the disposal of the main petition. They are further directed to keep the amounts collected so far since opening of the second rights issue in relation to this offer in a separate account which should not be utilised till the disposal of the petition. Further, status quo with regard to existing shareholders and their shareholding shall be maintained till the disposal of the main petition,” the order said.
