Edtech Byju’s parent, US lenders move NCLAT to halt Aakash Educational Services EGM

Glas Trust, which represents edtech company Byju’s US lenders, and the resolution professional of Think and learn, the parent company, have moved the National Company Law Appellate Tribunal (NCLAT) seeking an interim stay to prevent Aakash Educational Services from holding its extraordinary general meeting (EGM) on October 29 to approve a rights issue.

The tribunal is expected to pass an order on the matter later today.

This comes after the Bengaluru bench of the National Company Law Tribunal (NCLT) dismissed Think and Learn’s plea for an interim…