New Delhi: The Supreme Court on Tuesday refused to restrain Aakash Educational Services (AES) from proceeding with its ₹140 crore rights issue - the second tranche of its planned ₹240 crore fundraising.
Edtech platform Byju's bankrupt parent, Think & Learn (TLPL), which owns a minority stake in AES, had challenged the National Company Law Appellate Tribunal's February 3 order that allowed the coaching centre operator to issue the second tranche of right shares. The appellate tribunal had also granted TLPL the liberty to apply for shares not exceeding the number proportionate to its original shareholding of 25.75%.
Source Name : Economic Times