Tech
NCLT declines relief to Byjus, refuses to stay Aakash EGM on rights issue
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The National Company Law Tribunal has declined to grant any interim relief to insolvency-bound edtech firm Byju’s, which sought to restrain Aakash Educational Services Ltd (AESL) from convening its extraordinary general meeting (EGM) for a rights issue.
It rejected Byju’s plea to stay the EGM to be held on October 29, 2025, observing “acceptance of such plea would lead to an incoherent proposition undermining the independent rights of the company”.
“As a shareholder, the Petitioner (Byju’s) may validly seek financial documents to be aware of the health…
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