NCLAT Chennai Dismisses Appeal By Bjyu's Challenging NCLT Interim Order In Aakash Shareholding Dispute

The National Company Law Appellate Tribunal (NCLAT) Chennai bench comprising Justice Sharad Kumar Sharma (Judicial Member) and Jatindranath Swain (Technical Member) has dismissed the appeal filed by Think & Learn Private Limited (Byju's) against Aakash Educational Services Limited and others. The Tribunal held that the impugned order under challenge was interlocutory in nature and passed with the consent of the parties, and therefore no interference was warranted at the appellate stage. Brief Facts Think & Learn Private Limited (under CIRP) filed the appeal under Section 421 of the Companies Act, 2013, challenging the order dated 30.04.2025 passed by the NCLT, Bengaluru Bench. The NCLT, in the impugned order, had directed that the shareholding of TLPL in Aakash Educational Services Limited (Respondent No. 1) shall not be diluted until interim reliefs prayed by TLPL are heard and decided. The NCLT had passed an interim order dated 27.03.2025 directing the respondents to maintain status quo regarding shareholding. This order was challenged in the Karnataka High Court. The High Court set aside the interim order on 08.04.2025, remitting the matter to the NCLT for fresh hearing with a direction that the shares of TLPL shall not be diluted till the NCLT passed appropriate orders. Observations The NCLAT observed that the impugned order dated 30.04.2025 was a “consensual order”, wherein parties agreed that TLPL's shareholding in Respondent No. 1 would remain undisturbed until the Tribunal decides the interim relief plea. The Tribunal held: “Since the Impugned Order takes the shape of an interlocutory order, which is not deciding any of the rights of the parties, coupled with the fact that the order takes the shape of a consenting order, no interference is called for by this Tribunal in the exercise of its Appellate Jurisdiction at this stage.” The Tribunal therefore dismissed the appeal as lacking merit. Case Title: Think & Learn Private Limited vs. Aakash Educational Services Limited & Ors. Case Number: Company Appeal (AT) (CH) No. 68 / 2025 (IA No. 701 / 2025) For Appellant: Mr. SR. Rajagopal, Senior Advocate; TK Bhaskar, Pooja Mahajan, Arveena Sharma, Ichchha Kalash, Samridhi Shrimali, Lakshana Viravalli & S. Madhusmitha, Advocates For Respondents: Mr. E. Om Prakash, Senior Advocate (for R1) Mr. Arun Kathpalia, Senior Advocate with AR. Ramanathan, Anmol Tayal & S. Sriraman (for R11) Mr. Dhyan Chinnappa, Senior Advocate with AR. Ramanathan, Anmol Tayal & S. Sriraman (for R16–R20) Date of Judgment: 06/06/2025 Click Here To Read/Download The Order

NCLAT Chennai Dismisses Appeal By Bjyu's Challenging NCLT Interim Order In Aakash Shareholding Dispute

Tazeen Ahmed

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