NCLT orders status quo on Aakash shareholding

The National Company Law Tribunal (NCLT) on Thursday ordered status quo on the shareholding of Aakash Education Services Limited (AESL) to be effective untill further hearing on April 30.

The move effectively pauses the company’s bid to amend its articles of association (AoA) for at least a month. Aakash is looking to alter its AoA to raise fresh funding to the tune of Rs 500 crore.