India’s embattled edtech giant BYJU'S has challenged the approval granted by the National Company Law Appellate Tribunal (NCLAT) to a ₹240 crore rights issue proposed by its subsidiary Aakash Educational Services Limited. The move marks yet another flashpoint in the ongoing corporate and legal turbulence surrounding the once high-flying startup.
The dispute centers on whether the rights issue — aimed at strengthening Aakash’s balance sheet and ensuring operational continuity — was approved through a fair and transparent process. BYJU’S, which acquired Aakash in 2021 in a high-profile deal, has argued that the tribunal’s approval undermines shareholder rights and could potentially dilute its
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