SC rejects Byju’s lender’s plea; clears path to Rs 240-crore rights issue

The Supreme Court dismissed petitions by Think & Learn’s resolution professional and Glas Trust, challenging Aakash Educational Services to proceed with its rights issue. This will reduce Byju’s stake from 25.75% to under 5%. The move, aimed at raising operational funds, had faced prior objections from creditors but was cleared by the courts.