In a message to the staff, Raveendran clarified that despite claims from a minority group of shareholders about changing the leadership of the company, he remains the CEO, the current management team stays in place, and the board remains unchanged.
He emphasized that only a small fraction of shareholders supported the resolution at the recent EGM, indicating limited backing for the proposed changes.
Raveendran highlighted that the company’s governance structure is determined by established documents and laws, which were not followed during the meeting, rendering any decisions made invalid.
Shareholders, including Prosus, have taken the matter to the National Company Law Tribunal, aiming to address governance and compliance issues at Byju’s.
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