NCLT Bengaluru Rejects Plea by BYJU’s RP to Stay Aakash EGM Rights Issue

The National Company Law Tribunal – Bengaluru Bench refused a petition filed by the resolution professional of BYJU’S in relation to the proposed rights issue by Aakash Educational Services Limited, thereby allowing the extraordinary general meeting (EGM) on the rights issue to proceed. The decision illustrates the tribunal’s gate-keeping role in insolvency and restructuring scenarios, and the interplay between corporate creditors, shareholders, and resolution professionals in a complex rights-issue context.