NCLT directs Byju’s to maintain status quo, freezes funds raised via second rights issue

The Bengaluru bench of the National Company Law Tribunal (NCLT) has directed the embattled edtech major Byju’s to maintain status quo with regard to existing shareholders and their shareholding.

“Status quo with regard to existing shareholders and their shareholding shall be maintained till the disposal of the main petition,” the order that was made available on June 13 said.