"byju-raveendran"

A caveat application is filed by a litigant to ensure that no order is passed against them without being heard

After Mohan's resignation, Byju Raveendran, the company's Co-founder and CEO, will assume a more hands-on role in leading daily operations. Mohan will remain with the edtech firm in an "external advisory role."

Byju Raveendran and Divya Gokulnath are prohibited by the judge from further transferring or using any of the $533 million in loan proceeds previously held by Camshaft Capital Fund, and subsequently transferred to an unnamed and unknown offshore trust.

Byju Raveendran said that the management remains unchanged, the Board remains the same and the rights issue has “seen an overwhelming response.”

The company had earlier listed February 1 for the January salary pay-out for its employees, which has now been delayed and there is no communication.

According to sources, the Vedantu deal is currently in the advanced stage and will materialise soon after meeting the necessary regulatory approvals.

Byju's, which is the most valued ed-tech startup in the country, is backed by marquee investors like Mary Meeker, Yuri Milner, Chan-Zuckerberg Initiative, Tencent.