Advisory group to Byju’s on CEO, governance
Advisory group to Byju’s on CEO, governance
At the annual meeting of shareholders held on July 4, BYJU’S CEO Byju Raveendran announced that the company would establish a Board Advisory Committee. The purpose of this committee will be to offer the CEO advice and direction on issues concerning the makeup of the board and the governance structure. The Board of Advisors and Consultants (BAC) will function as a working group comprised of independent directors that come from trustworthy backgrounds and have significant experience in a variety of corporate disciplines.
It plans to conduct another extraordinary general meeting on the subject of the board’s composition in three weeks.The shareholders of the ed-tech company demanded that Raveendran be removed from his position as CEO, which led to the establishment of the BAC.
P&W has been ordered by a court in Singapore to supply engines to Go First.
There is now a better probability that Go First will begin operating flights again. In point of fact, this insolvent airline belonging to the Wadia Group has been given a reprieve by the arbitration court in Singapore as it works its way through the bankruptcy procedure. The judge ruled that the American engine company Pratt & Whitney, often known as P&W, must provide GoFirst with five engines on a monthly basis from August through December. P&W has said that it would be compliant with the judgement made by the court.
As a result of this, there is reason to believe that the beleaguered airline will eventually resume operations. Due to the company’s ongoing financial difficulties, Go First had to cancel all of its flights beginning on May 3, 2023. The corporation pointed the finger of blame at P&W for the delayed delivery of locomotives. Since that time, the two businesses have been engaged in a conflict through the court system. The second piece of news is that the resolution professional working for GoFirst has begun making arrangements to appeal the judgement given by the Delhi High Court to the Supreme Court.
