Byju's case: K'taka HC asks Qatar Holding to move arbitral tribunal

The Karnataka high court has rejected petitions filed by Qatar Holding LLC (QHL) seeking to restrain edtech firm Byju's and its founder Byju Raveendran from disposing of assets worth $235 million, including shares in Aakash Education Services Limited (Aakash Institute).

- Ayesha Arvind

BENGALURU:

In an order passed on April 16, Justice Ashok S Kinagi held that since the arbitral tribunal under the Singapore International Arbitration Centre (SIAC) Rules had already been constituted, QHL must seek interim measures before the tribunal rather than Indian courts under Section 9 of the Arbitration and Conciliation Act, 1996.

"The petitions are rejected. However, the liberty is reserved to the petitioner to make necessary application either before the Emergency Arbitrator, seeking clarification or before the Arbitral Tribunal, seeking interim relief," the court said in its order.