"I am still the CEO, the management is still the same, and the board is still the same. In other words, "business as usual" at BYJU'S," Raveendran said in the letter.
He went on, “We can’t change how our company is run without adhering to these strict guidelines, just as you can’t change the rules of a game midway without agreement from all players.”
A copy of the letter has been examined by Moneycontrol
Many of these fundamental guidelines were broken during yesterday’s Extraordinary General Meeting (EGM). This implies that the decisions made during that meeting are null and void as they violated the set guidelines, the speaker said.
In addition, Raveendran mentioned the Karnataka High Court’s ruling and stated that any decisions reached during the meeting will not take effect until the following hearing on March 13.
The CEO and creator of the edtech business, Byju Raveendran, said in a letter to staff members that the rumors that he was fired from Byju’s are untrue, one day after a group of investors decided to remove him from his position.
“It is entirely false that a tiny number of chosen minority shareholders claimed to have approved the resolution at the EGM by unanimous vote. Just 35 of the 170 shareholders, or around 45% of the total shareholding, cast votes in favor of the motion. That demonstrates the extremely little support this pointless meeting had,” Raveendran informed the staff.
Welcome To Taza News Media, Your Gateway To A Dynamic Realm Of Information And Enlightenment. As You Step Into Our Digital Home, We Invite You To Embark On A Journey That Transcends Conventional News Reporting. At Taza, We Believe In The Power Of Storytelling, Weaving Narratives That Go Beyond The Surface To Unveil The Heart Of Every News Piece. Our Commitment To Journalistic Integrity Is The Cornerstone Of Taza News Media, Ensuring That You Receive Not Just News Updates But A Thoughtful Exploration Of The Stories That Shape Our World.
