Arbitration court stops Byju from selling six percent stake in Aakash Education
[ad_1]
pattern photo
creative commons licenses
Aakas Education, a subsidiary of Think and Learn, has failed to pay nearly Rs 350 crore raised from the MEMG family office led by billionaire physician Ranjan Pai.
Education technology firm Think & Learn, which owns the Byju’s brand, has been asked by an emergency arbitration court not to sell about six per cent stake in Aakash Education.
Aakas Education, a subsidiary of Think and Learn, has failed to pay nearly Rs 350 crore raised from the MEMG family office led by billionaire physician Ranjan Pai.
MEMG Family Office had initiated arbitration proceedings in March to protect its rights. An emergency arbitrator appointed in India under the rules of the Singapore International Arbitration Center issued instructions in this regard on April 4, a legal representative said. Byju and MEMG did not respond to email queries in this regard.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
