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Indian startup Byju’s calls shareholder move to oust CEO invalid – ThePrint

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Indian startup Byju’s calls shareholder move to oust CEO invalid – ThePrint

 

By Dhwani Pandya and M. SriramMUMBAI (Reuters) – Shareholders in Indian edtech startup Byju’s, including tech investors Prosus and Peak XV Partners, voted on Friday to oust its founder and CEO Byju Raveendran, Prosus said in a statement.Byju’s, whose products range from online tutorials to offline coaching, said the decisions taken at an extraordinary general meeting called by investors, were invalid as they did not comply with the company’s internal laws,These require at least one founder-director to be present to form a valid quorum. CEO Raveendran, his wife and brother did not attend the meeting. “As the founders did not participate… 

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