Karnataka High Court Restricts Byju's Share Allotment Till NCLT Decision On Rights Issue

The Karnataka High Court dismissed a petition challenging Byju's co-founder Byju Raveendran's allotment of shares. The court ruled that the allotment was made in accordance with company law provisions and upheld the validity of the share issuance. Byju's argued that the allotment was essential for the company's growth and was conducted with transparency. The court emphasized adherence to corporate governance norms and rejected allegations of procedural irregularities. This decision underscores the importance of complying with corporate law in share allotments.