Byju's founder and family to skip EGM called by investors on February 23

Byju's founder, Byju Raveendran, along with other board members, including his wife, Divya Gokulnath, and brother Riju Raveendran, have announced their decision not to participate in the extraordinary general meeting (EGM) scheduled by the company's investors for February 23. They assert that the EGM lacks procedural validity and is in violation of both the Articles of Association (AOA) and the Shareholders' Agreement (SHA), as well as being legally inconsistent with the Companies Act, 2013.

A spokesperson for Byju's emphasized, "Byju Raveendran or any other Board member will not attend this invalid EGM. This means the EGM, if it is still summoned, will not have the required quorum and cannot proceed to discuss or vote on the agenda. As custodians of BYJU'S, it is the responsibility of the Founders to respect the established procedures of law and protect the company's integrity."

This stance underscores the founders' commitment to upholding legal standards and preserving the integrity of the company amid the ongoing dispute with investors seeking management changes.