NCLAT Quashes BYJU’S Appeal In Aakash Shareholding Dispute

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SUMMARY

In an order dated June 6, the NCLAT said that the interim NCLT order was “interlocutory in nature” and “consensual”, making it unfit for appellate review

With this, the NCLAT has effectively upheld the NCLT order that maintained the current shareholding structure of Aakash and put a hold on any new fundraise

Aakash has maintained that its INR 500 Cr fundraise is crucial for its survival and is needed to cover operational costs across its network of offline coaching centres

The National Company Law Appellate…



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NCLAT Quashes BYJU’S Appeal In Aakash Shareholding Dispute


SUMMARY

In an order dated June 6, the NCLAT said that the interim NCLT order was “interlocutory in nature” and “consensual”, making it unfit for appellate review

With this, the NCLAT has effectively upheld the NCLT order that maintained the current shareholding structure of Aakash and put a hold on any new fundraise

Aakash has maintained that its INR 500 Cr fundraise is crucial for its survival and is needed to cover operational costs across its network of offline coaching centres

The National Company Law Appellate…



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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