Mint Explainer: What the Karnataka HC’s share attachment means for the Aakash rights issue

Key Highlights

• Subscribe to enjoy similar stories.
• Subscribe now A Karnataka high court order on 13 January has effectively “locked" a block of Aakash Educational Services Ltd's (AESL) shares allegedly linked to Byju Raveendran, creating fresh compliance and legal questions around the coaching firm’s recently concluded rights issue.
• Though there is no immediate threat to AESL's ₹100 crore rights issue closed in December, according to lawyers, the order draws sharper scrutiny on who ultimately owns and benefits from the shares.
• The court order also raises the question of whether AESL can produce a clean paper trail—shareholding records, beneficial ownership declarations, and the full allotment trail—if the court asks for it.
• Mint explains: Also Read | Ranjan Pai to bring ₹250 crore more into Aakash as Manipal bids for Byju's How did the AESL rights issue land in legal trouble?AESL allowed Beeaar Investco Pte.