India, Sept. 23 -- BYJU'S has reportedly reached a settlement with Aakash Educational Services Limited (AESL) over the dispute over the latter's rights issue.

As per a report by LiveLaw Biz, BYJU'S senior advocate Abhinav Vasisht and senior advocate C K Nandakumar on Aakash's behalf, informed the NCLT's Bengaluru about the settlement today.

The proceedings relate to Aakash's rights issue, which BYJU'S had challenged before the NCLT, alleging oppression and mismanagement. Amid a financial strain, Aakash had proposed to undertake a Rs.500 Cr rights issue. The proposed rights issue could have diluted BYJU'S stake in Akash from 26% to less than 5%, which prompted BYJU'S to contest the rights issue before the NCLT, the NCLAT, and the Supreme...