Peak XV Partners, Prosus and Chan Zuckerberg Initiative verified the resignations of their agents from the board of edtech company Byju’s, in different declarations provided till late on Friday. ET initially reported on Thursday the resignations of GV Ravishankar, MD at Peak XV Partners (earlier Sequoia Capital India); Russell Dreisenstock, head of financial investments, food, at Prosus (earlier Naspers); and Vivian Wu of Chan Zuckerberg. “We validate that GV Ravishankar has actually resigned from the board of Think & Learn. We are dedicated to supporting the business for employing an independent director to reinforce company procedures and internal control systems,” a representative for Peak XV stated in reaction to ET’s inquiries. Prosus verified Dreisenstock’s departure from Byju’s board. “The business is needed to submit the resignation letter with the MCA (ministry of business affairs) in India within the needed period,” stated the Netherlands-listed company. By midnight, a representative for Chan Zuckerberg stated, “We verify that Vivian Wu of the Chan Zuckerberg Initiative has actually resigned from the board of Think & Learn.” On Thursday, Byju’s had actually rejected these resignations. Discover the stories of your interest In a declaration on Friday, Byju’s stated it has actually remained in positive conversations with financiers on reconstitution of the board, consisting of the induction of independent directors. “The requirement for reconstitution emerged as a couple of financiers needed to abandon the board seats due to their shareholding falling listed below a minimum necessary limit, according to our SHA (investors’ contract),” it stated. “We wish to assure all stakeholders that we are actively working towards making up a varied and first-rate board commensurate with the business’s size and scale,” the business stated. ET had actually reported that Delo
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