NCLT directs edtech major Byju’s to keep status quo on shareholding

The National Company Law Tribunal (NCLT) Bengaluru on Wednesday told edtech firm Byju’s to maintain the 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.

This means that Byju’s is restricted from issuing shares and using funds raised from a $200 million rights issue until the tribunal decides the matter.