On Wednesday(13th March), The Karnataka High Court has extended its interim order until March 28, preventing Byju’s shareholders from implementing decisions made at a recent EGM, delaying resolution of a dispute involving CEO Byju Raveendran. Esteemed investors sought Raveendran’s removal, but a court order is impeding this effort. Additionally, the NCLT has intervened in Byju’s rights issue.
On Tuesday(12th March), SEBI has directed Vedanta to pay Rs.77.6 crore plus 18% interest to Cairn UK Holdings Limited for delayed dividend payments spanning from January 22, 2014, to June 20, 2017. The directive resulted from a complex legal and financial dispute, signaling SEBI’s commitment to enforcing corporate governance and financial fairness. The order also has significant implications for Vedanta’s corporate governance, including a temporary ban on the company’s Vice-Chairman and other executive directors from accessing the securities market.