Legal Clash Intensifies: Aakash vs. Byju's Over Alleged Mismanagement

Aakash Educational Services (AESL) has approached the National Company Law Tribunal (NCLT) seeking the dismissal of a petition filed by Byju's, which alleges oppression and mismanagement. AESL wants consultancy firm E&Y and its partner, Ajay Shah, implicated because of their involvement in key decisions.

The plea from AESL claims that E&Y, Shah, and the Resolution Professional of Byju's possess crucial information about the company's strategic and financial decisions. AESL accuses the Resolution Professional of Byju's of not disclosing his ties with the organization, advocating for E&Y's inclusion in the case.

The case unfolds amid a broader legal battle over the governance of AESL following Byju's unsuccessful acquisition bid, which has been marred by accusations of company funds' misuse and management issues. Manipal Group, a significant stakeholder, has also raised concerns over E&Y's advisory role.

(With inputs from agencies.)