NCLAT nod to Aakash EGM on rights issue

The insolvency appellate tribunal NCLAT on Tuesday gave a go-ahead to the EGM of Aakash Educational Services Ltd (AESL) for the rights issue of the company, while rejecting the plea of Glas Trust, the US-based largest creditor of Think & Learn Pvt Ltd (TLPL).

- PTI

A two-member Chennai-based bench of NCLAT said it "hardly finds a reason to hold that Glas Trust has established a prima facie case for granting an injunction".