BYJU’s, one of the leading education technology firms, is seeking additional time to close its rights issue and plans to utilize a separate account to hold the proceeds. This proposal comes after the National Company Law Tribunal (NCLT) ruled that the firm must segregate the funds raised from the rights issue in a distinctive account. BYJU’s intends to pursue an extension of the closure date for the rights issue, enabling sufficient time for interested investors to participate. The company’s decision to create a separate account aims to ensure transparency and effective management of the funds generated through the rights offering. By keeping the proceeds in a dedicated account, BYJU’s aims to safeguard the interests of its investors and utilize the funds appropriately for further expansion and growth initiatives. It also demonstrates the company’s commitment to adhering to regulatory requirements and maintaining a responsible financial framework in its operations.