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AESL halts Byju’s parent’s share allotment over ₹25cr deposit concerns tied to possible financial rule violations.
Aakash Educational Services Ltd has paused share allotments to Byju’s parent company Think & Learn over concerns that a ₹25 crore deposit may violate Indian financial rules, including FEMA and ECB guidelines.
While allotments proceeded for the Manipal Group and Beeaar Investco, AESL cited potential non-compliance stemming from funds allegedly sourced via debentures issued to a Delaware entity.
Independent reviews by a former Supreme Court judge, retired RBI official, and senior advocate found the structure likely breached regulations.
The matter is before the NCLT in Bengaluru, and the deposit remains in a separate account.
AESL plans a new ₹140-crore rights issue.
AESL detiene la asignación de acciones de los padres de Byju por preocupaciones de depósito de ₹ 25 cr ligadas a posibles violaciones de las reglas financieras.