SC rejects BYJU's parent, GLAS Trust plea vs Aakash Educational rights issue
This story was originally published at 15:49 IST on 3 November 2025
Register to read our real-time news.Informist, Monday, Nov. 3, 2025
NEW DELHI – The Supreme Court Monday rejected petitions by BYJU's parent company Think & Learn Pvt. Ltd.'s resolution officer and GLAS Trust Co. LLC against Aakash Educational Services Ltd.'s move to conduct a rights issue that will dilute the shareholding of Think & Learn from 25.75% to less than 5%. GLAS Trust is a lender to Think & Learn and a member of the bankrupt edtech company's committee of creditors. Think & Learn is currently undergoing corporate insolvency resolution initiated by the Board of Control for Cricket in India.
Last week, the Chennai bench of the National Company Law Appellate Tribunal rejected pleas by the resolution professional and GLAS Trust, refusing to stay the extraordinary general meeting of Aakash Educational. Following the appellate tribunal's order, Aakash Educational Services shareholders approved a proposal to raise the company's authorised share capital, a key step before conducting a rights issue. Subsequently, GLAS Trust moved the Supreme Court, challenging the appellate tribunal's order.
On Oct. 17, the Bengaluru bench of the National Company Law Tribunal had also refused to stay the extraordinary general meeting of Aakash Educational on a plea by Think & Learn’s resolution officer. It was hearing a plea by the officer alleging oppression and mismanagement in Aakash Educational's affairs.
Think & Learn's officer had contended that the board of Aakash Educational has been convening meetings in gross violation of Part B of the articles of association. The committee of creditors of Think & Learn, including GLAS Trust, had also argued that their vital rights as creditors to the debt-ridden company were at stake and needed to be protected. End
Reported by Surya Tripathi
Edited by Avishek Dutta
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
