SC clears Aakash’s rights issue, further diluting BYJU’S stake

The Supreme Court rejected petitions by BYJU’S and Glas Trust to halt Aakash’s INR 200 crore rights issue, which may cut BYJU’S stake below 5%. Glas Trust alleged dilution intent, but chairman Shailesh Haribhakti said it was vital for operations. BYJU’S, amid insolvency and asset sales to repay a $1.2 billion loan, cannot participate.