BENGALURU: Aakash Educational Services Seeks Probe into Byju's Insolvency

Billionaire Ranjan Pai-backed Aakash Educational Services (AESL) has taken a bold step by approaching the National Company Law Tribunal. The company is calling for an inquiry into alleged discrepancies within the insolvency resolution proceedings of Byju's parent Think & Learn.

The petition highlights concerns over the conduct of key parties involved, urging the tribunal to direct the Insolvency and Bankruptcy Board of India (IBBI) to investigate. Named in the petition are former interim resolution professional Pankaj Srivastava, current resolution professional Shailendra Ajmera, and Glas Trust Company, among others.

Responses from the involved parties, including the Ministry of Corporate Affairs (MCA), IBBI, and the Registrar of Companies, Bengaluru, are pending. Stakeholders in AESL, such as Manipal Health Systems and MEMG Family Office, have also remained silent on the matter.