NCLT issues notice to Byju’s resolution professional on Aakash’s rights issue plea

The Bengaluru bench of the National Company Law Tribunal (NCLT) on Monday issued a notice to Shailendra Ajmera, the resolution professional of Byju’s parent Think & Learn Pvt Ltd (TLPL), to submit a response to a petition filed by Aakash Educational Services questioning the legality of the funds raised by TLPL to subscribe to the rights issue.

The development follows Aakash moving the NCLT on December 9, seeking regulatory clarity and urging the tribunal to seek a report from the Reserve Bank of India (RBI) on the classification and permissibility…