Aakash Educational Services seeks investigation into Byju's insolvency proceedings

Aakash Educational Services (AESL), backed by billionaire Ranjan Pai, has filed a petition with the National Company Law Tribunal (NCLT). AESL is requesting an investigation into potential issues within the insolvency resolution process of Think & Learn, Byju's parent company.

The education company wants the tribunal to instruct the Insolvency and Bankruptcy Board of India (IBBI) to examine the conduct of involved parties.

The petition lists several respondents: former interim resolution professional Pankaj Srivastava, current resolution professional Shailendra Ajmera, Glas Trust Company, the Ministry of Corporate Affairs, the IBBI, and the Registrar of Companies in Bengaluru.


, significantly backed by Manipal Health Systems and MEMG Family Office, alleges discrepancies in the proceedings. There has been no response from Glas Trust, Ajmera, Srivastava, the Ministry of Corporate Affairs, the IBBI, or the Registrar of Companies. Manipal Health Systems and MEMG Family Office have also not commented.

(with ToI inputs)