Title: Byju's Founder Byju Raveendran Denies Reports of CEO Ousting, Affirms Leadership in Company

Key Points:

1. Dismissal Rumors Refuted:

   • Byju Raveendran addresses rumors of his removal as CEO, emphasizing that he remains in his position and there have been no changes in the management or the Board.
   • In an email to employees, Raveendran clarifies that reports of his firing were greatly exaggerated, and he assures that the company is operating as usual.

2. EGM Controversy:

   • The denial follows an Extraordinary General Meeting (EGM) where key shareholders, including Prosus NV and Peak XV Partners, reportedly voted to oust Raveendran as CEO.
   • Raveendran challenges the legitimacy of the EGM, alleging violations of established rules and procedures in the company's Articles of Association.

3. Legal Intervention:

   • Raveendran highlights the interim relief granted by the Karnataka High Court, which stated that decisions made during the EGM would not be enforced until the final hearing on March 13.
   • Despite the legal dispute and drama surrounding the EGM, Raveendran assures employees that the company's focus remains on its operations.

4. Business Continuity:

   • Despite the challenges, Byju's CEO reaffirms the company's commitment to its operations and its employees.
   • Raveendran assures employees that the management is fully engaged in addressing the company's objectives and navigating through the current situation.

Conclusion:

Byju Raveendran's response to rumors of his removal as CEO provides clarity amid uncertainties surrounding the company's leadership. Despite facing challenges and legal disputes, Raveendran emphasizes continuity in operations and assures employees of the management's dedication to the company's objectives.