Aakash calls for probe into Byju's insolvency

BENGALURU: Billionaire Ranjan Pai-backed Aakash Educational Services (AESL) has approached the National Company Law Tribunal seeking an inquiry into alleged discrepancies within the insolvency resolution proceedings of Byju's parent Think & Learn. The company has urged the tribunal to direct the Insolvency and Bankruptcy Board of India to investigate the conduct of key parties involved in the proceedings.

The petition names former interim resolution professional Pankaj Srivastava, current resolution professional Shailendra Ajmera, Glas Trust Company, corporate affairs ministry, IBBI, and the Registrar of Companies, Bengaluru, as respondents. Glas Trust, Ajmera, and Srivastava did not respond. The MCA, IBBI, and the RoC, Manipal Health Systems and MEMG Family Office, significant stakeholders in AESL, also did not respond.

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