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Over the past four years, Byju Raveendran has focused primarily on raising capital and driving global expansion.
The rights issue, through which promoters of Byju's are seeking to infuse funds into the startup, is to close on Wednesday.
The company declared the resolutions passed by the shareholders as invalid.
However, BYJU's did not comment on the development. Raveendran is currently stated to be in Dubai.
The company was one of India's hottest startups, valued at $22 billion in 2022.
Troubles have been mounting for the edtech company, with its auditor resigning, board members cutting ties and the company falling behind in payments to a national pension fund.
Messi, who plays for Paris Saint-Germain and captains the Argentinian football team, has signed an agreement with BYJU’S to promote the cause of equitable education.
As a part of BYJU’S central restructuring plans, the company had given its Thiruvananthapuram staff the option to relocate to Bangalore as certain teams were being consolidated for better efficiency.
The company has also confirmed that it has no plans to leave Kerala, amid speculations over shutting down its firms in the state.
Byju Raveendran said the education provider clocked more than Rs 1,000 crore in sales in each of the last five months.