The Supreme Court recorded Aakash Educational Services Ltd’s undertaking to secure 25.7% stake held by Byju’s parent company till NCLAT decides the dispute. The top court also granted time to Think & Learn Pvt Ltd to subscribe to the second tranche of the Rs 240 crore rights issue.
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.
