Aakash shareholding case: NCLAT rejects plea of BYJU's RP

In a moral victory of sorts for Aakash Educational Services in its legal tussle over dilution of Byju's shareholding in the company, the National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed an appeal filed by Shailendra Ajmera, a partner at Ernst & Young and the resolution professional (RP) of Think & Learn Ltd.

- ENS ECONOMIC BUREAU @ New Delhi

Ajmera had challenged the April 30 order of the National Company Law Tribunal (NCLT), Bengaluru, which directed the parties to maintain the status quo on TLPL's 25% shareholding in AESL. However, the NCLAT Bench comprising Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain held the order was "interlocutory in nature" and "consensual," and therefore not open to appellate review.