আকাশের অধিকার ইস্যুতে ভোট দেওয়া বন্ধ করার জন্য BYJU NCLAT পিটিশন
Think & Learn, the parent company of edtech brand BYJU’S, has filed an appeal with the National Company Law Appellate Tribunal (NCLAT) on Monday against the NCLT order, which last week rejected a petition seeking to restrain Aakash Educational Services from convening an extraordinary general meeting for a rights issue. The bankruptcy-related edtech company Byju’s will postpone its extraordinary general meeting (EGM) scheduled for October 29, 2025. Meanwhile, a two-member bench of the National Company Law Appellate Tribunal (NCLAT) in Chennai, comprising Justice N. Seshasayee and Jatindranath Swain, on Monday heard a case filed by a TruBoard company, a US-LLA company lender, against Byju’s. Heavily indebted BYJU’s EGM. GLAS Trust, which holds over 90% of the voting rights in the BYJU’s Creditors Committee, had previously filed an application in the appellate court challenging the prior NCLT order where the NCLAT had refused to grant a stay.
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ReadBYJU’s founders plan to sue GLAS Trust and other entities for $2.5 billion amid US contempt ruling. During the hearing, Senior Counsel K.S. Sundaram, appearing for the plaintiffs, sought a stay to protect the interests of Think & Learn Private Limited (TLPL), which owns approximately 25% of Aakash Educational Services Limited (AESL), and stated that upon proper questioning, the bankrupt educational institution’s stake would be reduced. Senior Counsel Gopal Subramanium, appearing for the respondents, stated that the October 29th meeting was solely for AESL’s shareholders to pass a resolution, after which a letter inviting them to subscribe should be sent to all shareholders. It was further stated that AESL is in dire need of funds as it has 3.5 million students and 10,000 employees, and these expenses need to be met. Moreover, AESL is not involved in the bankruptcy proceedings filed against Byju’s, which only has an interest in it. Senior Advocate Abhinav Vashisht represented the resolution specialist TLPL. Byju’s asked to postpone the proposed EGM because the Rights Issue will reduce its stake in Aakash from 25% to less than 5%. In its application, Byju’s stated that the extraordinary general meeting of shareholders is in gross violation of the articles of association. It is contrary to the order passed by the NCLT on 19.11.2024 as it disregards Think & Learn’s participation/veto powers. BYJU’s is currently undergoing Corporate Insolvency Resolution Process. Edited by Megha Reddy.
প্রকাশিত: 2025-10-28 12:47:00
উৎস: yourstory.com
