Byju’s shareholders on Friday voted to remove CEO Byju Raveendran and his family members from the beleaguered edtech firm Think & Learn Pvt Ltd over alleged “mismanagement and failures”, PTI quoted shareholder Prosus as saying.

The decision came in an extraordinary general meeting (EGM), which was skipped by Raveendran and his family stayed away from the EGM, calling it “procedurally invalid.”

Ahead of the EGM, a group of four investors of Byju’s on Thursday evening filed an oppression and mismanagement suit against the management of the company in the Bengaluru bench of the NCLT, seeking declaring of founders, including CEO Byju Raveendran, as unfit to run the company, appointment of a new board, declaring the just-concluded rights issue as void and a forensic audit of accounts.