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The Supreme Court (SC) on Monday dismissed US-based GLAS Trust Co. LLC's appeal against Aakash Educational Services' decision to conduct a rights issue that will reduce the shareholding of Byju's parent company, Think & Learn, from 25.75% to less than 5%.GLAS Trust, a US-based lender to Think & Learn and a member of the bankrupt edtech company's committee of creditors (CoC), on Monday challenged the National Company Law Appellate Tribunal's (NCLT) order that refused to stay Aakash Educational Services' Extraordinary Meeting (EGM) to approve the rights issue that was scheduled on October 29.The apex court also rejected the resolution professional’s appeal on the related issue.Think & Learn moved SC when NCLT declined its plea to restrain Aakash Educational Services from convening its EGM for the rights issue.On October 17, 2025, the Bengaluru-based bench of NCLT declined to grant any interim relief on the second plea filed by the insolvency-bound edtech firm Byju's to stay the extraordinary general meeting (EGM) scheduled for October 29, 2025.Live EventsDuring the NCLT proceedings, Senior Advocate CA Sundaram, appearing for petitioners, sought a stay to protect the interest of Think & Learn Pvt Ltd (TLPL) and said that after the right issue, the stake of the insolvency-bound edtech firm will be diluted.Senior advocate Gopal Subaramanium, appearing for respondents, responded that the meeting on October 29 is only for the resolution of the shareholders of AESL, after which a letter of offer has to be sent out to all shareholders to subscribe.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onSC junks GLAS Trust pleaSupreme CourtGLAS Trust Co. LLCAakash Educational Servicesrights issueByju'sThink & LearnGLAS trustNCLT (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onSC junks GLAS Trust pleaSupreme CourtGLAS Trust Co. LLCAakash Educational Servicesrights issueByju'sThink & LearnGLAS trustNCLT(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
