Panel to advise Byju’s on CEO, governance

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BYJU’S CEO Byju Raveendran told shareholders at its EGM on July 4 that the firm will form a Board Advisory Committee to provide advice and guidance to CEO on matters pertaining to the composition of the board and the governance structure. BAC will serve as a working group consisting of independent directors with credible backgrounds and relevant experience from diverse corporate fields. It aims to hold another EGM in three weeks on the composition of the board.The formation of the BAC is a result of the shareholders demand to oust Raveendran as CEO of the ed-tech.

Singapore court orders P&W to deliver engines to Go First

The chances of Go First resuming flights has increased. In fact, this airline of the Wadia Group, which is going through the bankruptcy process, has got relief from the arbitration court of Singapore. The court ordered American engine manufacturer Pratt & Whitney ie P&W to supply five engines every month to GoFirst from August to December. P&W has said that it will abide by the court’s decision. Due to this, there is hope of the troubled airline to fly again. Go First had canceled its flights from May 3, 2023 due to financial crisis. The company blamed P&W for delaying the delivery of locomotives. Since then a legal battle is going on between the two companies. The second update is that the resolution professional of GoFirst has made preparations to challenge the decision of Delhi HC in SC.