Aakash moves NCLT to implead EY, alleges conflict in Byju’s petition
[ad_1] BENGALURU: Aakash Educational Services Ltd (AESL) has filed an application before the National Company Law Tribunal (NCLT), Bengaluru, seeking to dismiss a petition filed by Byju’s and calling for the impleadment of consultancy firm Ernst & Young (EY) and its partner Ajay Shah. AESL has alleged a conflict of interest, citing EY’s past advisory roles in transactions now being challenged by the Resolution Professional (RP) of Think & Learn Pvt Ltd, Byju’s parent entity.In its June 1 application, AESL claimed that EY and Shah had played a central role in financial, legal, and compliance-related matters for the company, including the structuring of non-convertible debentures (NCDs), their conversion to equity, and other board-level decisions. The same transactions are now under challenge by the RP, Shailendra Ajmera, who AESL alleges is also affiliated with EY.“The RP has suppressed material facts and […]