NCLT Orders Status Quo On Shareholding Of Aakash

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SUMMARY

The NCLT has ordered a status quo on the shareholding of the edtech till the next hearing on April 30

The move effectively pauses the company’s bid to amend its articles of association (AoA) for at least a month

The equity fundraise for Aakash, which might see BYJU’S founder Byju Raveendran offload more stake in the company, has seen a severe opposition from investors of Aakash and BYJU’S over the past few months

Extending the months-long turmoil over Aakash Institute’s fundraise plans, the National Company Law…



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NCLT Orders Status Quo On Shareholding Of Aakash


SUMMARY

The NCLT has ordered a status quo on the shareholding of the edtech till the next hearing on April 30

The move effectively pauses the company’s bid to amend its articles of association (AoA) for at least a month

The equity fundraise for Aakash, which might see BYJU’S founder Byju Raveendran offload more stake in the company, has seen a severe opposition from investors of Aakash and BYJU’S over the past few months

Extending the months-long turmoil over Aakash Institute’s fundraise plans, the National Company Law…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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