NCLT Orders Status Quo On Shareholding Of Aakash

The NCLT has ordered a status quo on the shareholding of the edtech till the next hearing on April 30

The move effectively pauses the company’s bid to amend its articles of association (AoA) for at least a month

The equity fundraise for Aakash, which might see BYJU’S founder Byju Raveendran offload more stake in the company, has seen a severe opposition from investors of Aakash and BYJU’S over the past few months

Extending the months-long turmoil over Aakash Institute’s fundraise plans, the National Company Law…