Now Reading: Byju’s and Aakash settle rights issue dispute before NCLT
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Byju’s and Aakash settle rights issue dispute before NCLT
Think & Learn Private Limited, the parent entity of Byju's, and Aakash Educational Services Limited have settled their dispute over Aakash's rights issue, LiveLawBiz reports. The settlement was informed to the Bengaluru…
Think & Learn Private Limited, the parent entity of Byju's, and Aakash Educational Services Limited have settled their dispute over Aakash's rights issue, LiveLawBiz reports. The settlement was informed to the Bengaluru bench of the National Company Law Tribunal on Wednesday. Senior advocates for both sides conveyed the development.
The dispute originated from Aakash's rights issue which Byju's had challenged alleging oppression and mismanagement. The tribunal had refused interim relief, a decision upheld by the NCLAT and the Supreme Court. Think & Learn's stake in Aakash had dropped to 10.99% from 25.75% after Aakash withheld shares citing concerns about fund origin.
Separately, the NCLT has directed parties to maintain status quo on assets of Byju's K3 Education sold by Think & Learn's resolution professional, pending next hearing on September 21. The tribunal noted assets worth Rs 150 crore were auctioned for about Rs 16 crore.
Indian Opinion Analysis
Both sources report the settlement neutrally, relying on the same LiveLawBiz court-room account. Inc42 adds context: creditors are in advanced talks to acquire a 30% stake in Aakash at a $2 Bn valuation, framing the deal as a rescue of Byju's most valuable asset. Livemint's second story on the K3 Education asset sale highlights a Rs 150 crore valuation sold for Rs 16 crore, raising questions about the resolution professional's conduct. The overlap shows that while one dispute is resolved, scrutiny of asset sales continues. The NCLT hearing on September 21 will test whether the status quo order holds.
Coverage: 2 sources, 2 neutral
Sources (2): livemint.com (neutral report), inc42.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry.
