AESL Accuses EY of Conflict Amid Byju's Acquisition Dispute

Aakash Educational Services has openly accused accounting giant Ernst & Young (EY) of a conflict of interest, alleging a breach of professional conduct in its ongoing legal dispute concerning Byju's failed acquisition deal. The accusations involve EY's simultaneous advisory roles for both AESL and Byju's, coupled with claims of mismanagement and financial misconduct.

In a letter dated May 17, 2025, AESL's legal team labeled EY's involvement as 'unethical and legally untenable' due to the dual advisory capacity, and requested full disclosure of documents and communications EY was privy to concerning AESL transactions. The company regards such associations as conflicting, particularly in corporate insolvency resolution processes.

While EY refutes all allegations and cites adherence to client confidentiality, AESL demands EY cease all involvement and preserve communication records for legal scrutiny. The situation escalates as AESL warns of legal action if EY fails to respond adequately, stressing the importance of institutional integrity in advisory roles.

(With inputs from agencies.)