SC Dismisses BYJU’S Plea To Halt Aakash’s Rights Issue

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SUMMARY

The verdict clears the way for Aakash to undertake its rights issue, a move that will dilute BYJU’S stake in Akash from 25.75% to less than 5% 

Last month, Aakash’s shareholders approved an increase in the company’s authorised share capital, a prerequisite to the rights issue

The Bengaluru NCLT had earlier declined BYJU’S request to halt Aakash’s extraordinary general meeting, noting that a rights issue cannot be deemed unfair merely because a shareholder chooses not or is unable to participate

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SC Dismisses BYJU’S Plea To Halt Aakash’s Rights Issue


SUMMARY

The verdict clears the way for Aakash to undertake its rights issue, a move that will dilute BYJU’S stake in Akash from 25.75% to less than 5% 

Last month, Aakash’s shareholders approved an increase in the company’s authorised share capital, a prerequisite to the rights issue

The Bengaluru NCLT had earlier declined BYJU’S request to halt Aakash’s extraordinary general meeting, noting that a rights issue cannot be deemed unfair merely because a shareholder chooses not or is unable to participate

In another…



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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