Aakash shareholders clear increase in authorised share capital

Aakash Educational Services Limited (AESL) on Wednesday said its shareholders have approved a proposal to increase the company’s authorised share capital, paving the way for the next phase of its planned rights issue. The approval follows the recent go-ahead from the National Company Law Appellate Tribunal (NCLAT), Chennai.

The proposal was originally recommended by AESL’s Board of Directors at its meeting held on October 4, 2025, and was placed before shareholders at an Extraordinary General Meeting (EGM) held earlier in the day. All eleven shareholders of AESL attended the meeting, including the Resolution Professional (RP) of Think & Learn Pvt. Ltd. (TLPL), the parent company of Byju’s, which holds a 25.54% stake in AESL.

During the EGM, the RP of TLPL raised objections to the resolution, citing ongoing proceedings before the NCLAT, Chennai, and the National Company Law Tribunal (NCLT), Bengaluru, challenging certain AESL board decisions, including the proposed rights issue.

Addressing these concerns, AESL Chairman Shailesh Vishnubhai Haribhakti reiterated that both the increase in authorised share capital and the rights issue is essential to ensure the company’s operational continuity and financial stability. He stressed that these steps are ultimately in the best interests of all shareholders, including TLPL, as they help preserve the value of its investment in Aakash.

“The situation of Aakash is such that, in the interest of Think & Learn Pvt. Ltd., the rights issue is the only way that Aakash can continue its ongoing operations, which ultimately protects TLPL’s investment,” Haribhakti said during the meeting.

He further urged the RP to place the matter before TLPL’s Committee of Creditors (CoC), noting that the rights issue is being offered at par value, giving the CoC an opportunity to participate in a commercially prudent manner.

“The rights issue is at par, and it is expected of the CoC of M/s Think & Learn Pvt. Ltd. to participate in the rights issue in its commercial wisdom,” he added.

Following deliberations, the shareholders approved the resolution by the requisite majority.

The approval marks a significant step forward for AESL as it looks to strengthen its capital base and maintain business continuity amid the ongoing corporate proceedings involving its shareholder, Think & Learn Pvt. Ltd.

Also See: NCLAT dismisses GLAS Trust’s plea against Aakash AGM, rights issue