Aakash founder JC Chaudhry owns only a minority stake in Aakash after selling a significant portion of his shares to the Manipal Group earlier
Ranjan Pai, who leads the Manipal Group, is one of the largest shareholders in Aakash having about a 40% stake
The CCI approval comes at a time when Aakash is looking to raise fresh funds. However, the NCLT has paused any changes to the test prep chain’s shareholding or articles of association
The Competition Commission Of…