Bengaluru, April 15: Edtech firm Byju슬롯사이트™s on Monday said that its shareholders have approved the rights issue, paving the way for its parent company Think & Learn Private Limited to issue fresh shares and conclude the rights issue aimed at tackling the severe cash crunch as the company is struggling to pay its employees.

The company said the vote for an increase in authorised share capital put forth in the form of a postal ballot and the extraordinary general meeting (EGM) held on March 29, has been approved by a majority of 55 per cent of the total votes polled. 슬롯사이트œThe voting process, which included both the EGM and a postal ballot that concluded on April 6, has been duly scrutinised by an independent third party,슬롯사이트� it said in a statement.슬롯 머신 사이트 추천Arjun Mohan Resigns as BYJU슬롯사이트™s India CEO, Byju Raveendran To Step Back for Controlling Day-to-Day Operations: Reports.

The approval of the EGM proposals clears the hurdle for Byju슬롯사이트™s to address the liquidity crunch, including unpaid salaries, regulatory dues and vendor payments. 슬롯사이트œWe are grateful to our investors for their support and understanding during this pivotal phase. Their invaluable support in providing essential working capital underscores their collective commitment to our renewed growth push,슬롯사이트� said Byju Raveendran, Founder and CEO of Byju슬롯사이트™s.

슬롯사이트œThe shareholder approval marks a significant threshold in our relentless push to turn around the business beset with multiple challenges, which we are resolving one by one, slowly but surely,슬롯사이트� he added. The culmination of the rights issue will set the stage for the launch of Byju슬롯사이트™s 3.0.슬롯 머신 사이트 추천Zerodha Co-Founder Nikhil Kamath Launches Non-Dilutive Grant Agnostic Fund 슬롯사이트˜WTFund슬롯사이트� for Young Entrepreneurs.

Earlier in the day, the company announced that Arjun Mohan, who was elevated as the embattled edtech firm슬롯사이트™s CEO some seven months back, has moved on to pursue other opportunities. Raveendran will now take a more hands-on approach in spearheading the daily operations of the company. Mohan will be part of the edtech firm in an 슬롯사이트œexternal advisory role슬롯사이트�.

(The above story first appeared on LatestLY on Apr 15, 2024 04:54 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).