The Karnataka High Court has temporarily stayed the NCLT’s order preventing Aakash Educational Services from amending its Articles of Association, which could dilute investor shareholding. Aakash argues that the NCLT lacked reasoning for this decision. Further hearings are set for December 2 amidst ongoing legal disputes involving key investors.
Lenders have accused Byju’s former management of attempting to dilute Think and Learn’s stake in Aakash, stressing its crucial role for the company’s value. The National Company Law Tribunal is involved, with several legal representatives addressing ongoing insolvency claims and management control over Aakash, amid ongoing disputes and pending applications.