Byju

Aakash Educational Services has secured control over shares previously held by Byju’s following a decisive ruling in a long-running rights dispute between the two education-sector heavyweights. The order strengthens Aakash’s ownership position and brings clarity to a contentious shareholder arrangement that had weighed on governance and strategic decision-making. Legal experts view the ruling as a critical inflection point, reinforcing contractual rights and signaling stricter enforcement of shareholder agreements in India’s startup ecosystem.

The National Company Law Tribunal (NCLT) has rejected Byju’s petition seeking to halt the Extraordinary General Meeting (EGM) of Aakash Educational Services. The decision allows the EGM to proceed as planned, signaling regulatory adherence to shareholder governance norms. Byju’s, which holds a significant stake in Aakash, had sought an interim relief citing concerns over proposed corporate resolutions. Legal analysts suggest that the ruling underscores the judiciary’s emphasis on procedural compliance while balancing investor rights.

The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by Think & Learn, the parent company of Byju’s, against a National Company Law Tribunal (NCLT) order that directed the parties to maintain the current shareholding in Aakash Educational Services. The appellate tribunal observed that the order is interlocutory and consensual, not warranting intervention at this stage.

In a significant legal battle, Riju Ravindran, co-founder and former promoter of Byju’s, has petitioned the National Company Law Tribunal (NCLT) to remove GLAS Trust Company LLC from its role as a financial creditor representing the edtech firm in its ongoing insolvency proceedings. Ravindran has accused GLAS Trust of fraudulently presenting itself as a legitimate creditor with the authority to represent a substantial portion of Byju’s debt, despite holding voting rights for only a fraction of the creditors.

India’s prominent edtech firm Byju’s faces a significant operational setback as its flagship learning app has been removed from the Google Playstore due to unresolved payment disputes with Amazon Web Services (AWS), the app’s key technology vendor. The dispute has been ongoing since April 2024, coinciding with the company’s insolvency proceedings overseen by an appointed Resolution Professional. While Byju’s Premium Learning and Exam Prep apps remain accessible, the delisting reflects escalating financial pressures on the firm amidst investor litigation and regulatory scrutiny.

The ongoing battle between Byju's founders and GLAS Trust Company has intensified as the edtech giant faces severe financial and legal scrutiny. Byju Raveendran and his team have vehemently denied recent allegations made in a US lawsuit, dismissing them as baseless and part of a larger conspiracy to seize control of the company. The dispute highlights the ongoing financial turbulence at Byju’s, amid accusations of financial mismanagement and unethical conduct. Both sides are digging in their heels, with the case expected to have significant implications on the future of the company.