Jun 10, 04:00 AM

NCLAT Rejects Byju's Resolution Professional's Petition in Aakash Shareholding Row Amid $533 Million Theft Allegation and Bankruptcy Auction Sales

The National Company Law Appellate Tribunal (NCLAT) has rejected the petition filed by Byju's resolution professional concerning a dispute over Aakash shareholding. Meanwhile, Byju Raveendran, founder of the Indian edtech giant Byju's, is at the center of an alleged $533 million theft. In related developments, two major American subsidiaries of Byju's, the kids learning platform Epic and the coding platform Tynker, were sold at significantly reduced prices in a court-ordered bankruptcy auction. CodeHS acquired Tynker for $2.2 million, while TAL Education purchased Epic for $95 million, both amounts representing a fraction of the original purchase prices paid by Byju's.

#Byju #Aakash #Byju Raveendran #Indian #American #Epic #Tynker #CodeHS #TAL Education

Written with ChatGPT (GPT-4).

NCLAT Rejects Byju's Resolution Professional's Petition in Aakash Shareholding Row Amid $533 Million Theft Allegation and Bankruptcy Auction Sales

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