Byju’s investors vote to remove CEO after ‘rowdy’ Zoom call. What next?

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Disclaimer: The following article is based on publicly available information and does not represent any personal opinions or judgments.

Byju's, the embattled edtech giant, has contested the decision made by its shareholders on Friday to remove its founder as the chief executive officer. The company has deemed the resolutions passed at the shareholders' meeting as "invalid" due to the absence of its founders.

According to Byju's, the presence of at least one founder-director is necessary to form a valid quorum at the meeting. However, neither Byju Raveendran, his wife, nor his brother attended, rendering the resolutions taken at the meeting "null and void," as stated by the company.

Notable shareholders, including Prosus NV and Peak XV Partners, voted to dethrone Byju Raveendran, expressing dissatisfaction with the entrepreneur as the company faces challenges to stay afloat.

However, the outcome of the shareholders' decision will not be implemented until March 13, pending a hearing at the Karnataka High Court where Mr. Raveendran is challenging the validity of the meeting. Shareholders are also expected to present their justifications before the court.


Reports suggest that several staff attempted to disrupt the meeting held on a Zoom call involving investors and management, with loud noises and whistles from unknown participants.

Once valued at $22 billion in 2022, Byju's has seen a significant decline in its valuation by 90% and has resorted to job cuts to survive. Additionally, recent setbacks include the resignation of its auditor Deloitte and a lawsuit in the US disputing loan payment terms, as well as facing an Enforcement Directorate probe regarding alleged Foreign Exchange Management Act (FEMA) violations.





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