Aakash to NCLAT: Don't want to go Byju's way, need funds
Financial Express Mumbai|December 07, 2024
AAKASH EDUCATIONAL SERVICES on Friday defended its move to amend the articles of association (AoA), stating that it was required for the company's survival and future growth.
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Aakash to NCLAT: Don't want to go Byju's way, need funds

"We don't want to go down the path of Think and Learn, parent firm of Byju's. We want to stay afloat," Aakash's senior counsel told the National Company Law Appellate Tribunal (NCLAT).

The counsel explained that the company was not seeking a loan but intended to raise funds by selling more equity. The amendment to the AoA would help infuse much-needed capital and ensure the company's survival.

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