Byju’s moves Karnataka HC against NCLT order barring second rights issue

Beleaguered edtech firm Byju’s has moved the Karnataka High Court challenging the order of the National Company Law Tribunal (NCLT) restraining it from going ahead with the second rights issue.
The plea is likely to come up for hearing on June 24. Before that, the plea was heard on June 18 and 21.

The orders of NCLT were expected to be challenged before the National Company Law Appellate Tribunal (NCLAT). However, Byju’s has filed a writ petition in the Karnataka High Court, which is usually filed against the violation of fundamental rights.