BYJU’S moves NCLAT against Aakash’s EGM

BYJU’S parent entity has appealed to the National Company Law Appellate Tribunal (NCLAT) to block an Extraordinary General Meeting (EGM) of Aakash Educational Services, which is being convened to approve a rights issue. The reason: the rights issue may significantly dilute BYJU’S holding from around 25 % to potentially less than 5 %. The EGM has been challenged on grounds of governance, dilution of minority rights, Article of Association compliance, and creditor/insolvency-process intertwining. The dispute underscores how corporate governance, rights issues, strategic dilution and stakeholder rights are becoming flashpoints in the ed-tech sector undergoing financial stress.