Karnataka HC lifts NCLT freeze on Aakash Educational Services stake sale

The Karnataka High Court on Tuesday quashed an order of status quo on the shareholding of Aakash Educational Services Limited (Aakash) and sent the matter back to National Company Law Tribunal (NCLT) Bengaluru for consideration.

NCLT Bengaluru had on March 27 ordered status quo on the shareholding of Aakash. This was on the basis of a plea by the resolution professional of parent company Byju’s Think and Learn Pvt Ltd.