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NCLT declines relief to Byjus
Orissa POST
|October 26, 2025
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 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 of the Respondent No 1 (AESL), but the proposed rights issue infusing funds cannot be termed to be unequitable," said the National Company Law Tribunal (NCLT).
This story is from the October 26, 2025 edition of Orissa POST.
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