NCLAT Chennai Dismisses Appeal By Bjyu's Challenging NCLT Interim Order In Aakash Shareholding Dispute

The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by edtech giant Byju's parent company, Think & Learn Pvt Ltd. The appeal was challenging an interim order passed by the National Company Law Tribunal (NCLT) in the ongoing Aakash shareholding dispute. The NCLT had directed to maintain the status quo regarding the shareholding in Aakash Educational Services, a subsidiary of Byju's. Byju's had contested this order at the NCLAT. The appellate tribunal's decision to dismiss the appeal means that the NCLT's interim order remains in force. This is another legal setback for Byju's, as it prevents the company from making any changes to the shareholding structure of its key subsidiary, Aakash, while the main petition is still being heard by the NCLT. The ruling keeps the existing legal constraints on the financially troubled edtech firm.