Don’t want to go Byju’s way: Aakash Educational Services to NCLAT

Aakash Educational Services told the National Company Law Appellate Tribunal (NCLAT) on Friday that its move to amend Articles of Association (AoA) was aimed at infusing funds by selling equity and save the firm from going “down the path” of Byju’s — a debt-ridden edtech firm t that owns Aakash.

However, the NCLAT did not set aside the National Company Law Tribunal (NCLT) order halting Aakash from amending its AoA and sent the matter back to NCLT.