Karnataka HC quashes status quo order on shareholding of Aakash Institute

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Karnataka HC quashes status quo order on shareholding of Aakash Institute - Business Standard

Quick Summary:

The Supreme Court on November 29 last year barred Aakash from implementing a resolution to amend its AoA passed at its EGM.

Aakash has been told not to dilute the shareholding of Byju's in it until the case is decided by the NCLT.

The proposed amendments allegedly sought to dilute the rights of minority shareholders, including Singapore VII Topco I Pte Ltd, owned by Blackstone, which holds a 6.97 per cent stake in Aakash.