UpGrad’s bid is focused on higher-education assets such as Great Learning — not the K12 business, sources told Moneycontrol; the move comes as the company is also in talks to acquire Unacademy as part of a wider consolidation strategy
The investors alleged that the company's move to call for rights issue is illegal and contrary to law and sought a stay of it, while the board of directors of the company argued that the investors were creating obstructions to the company
The plea will be heard by a bench of judicial member K. Biswal and technical member Manoj Kumar Dubey. This is the fifth plea filed against Byju's in NCLT and fourth filed in 2024.
The NCLT noted that the case is 'high profile' and it should be heard at the earlier possible date and adjourned the hearing of the case in January.
The company has undertaken exercise to reduce workforce by about 3,000-3,500 this month by ending duplication in roles across the organisation.
Byju's holding company, Think and Learn, is looking to dilute up to 20% of its total 70% equity stake in Aakash Education, according to the report.
Byju’s bought the Singapore-based company through its wholly owned upskilling platform Great Learning, valuing Northwest Executive Education at a little less than $100 million, sources said.