Aakash founder withdraws petition against firm

Bengaluru: The National Company Law Tribunal (NCLT), Bengaluru Bench, closed a petition filed by Jagdish Chand Chaudhary, founder and former promoter of Aakash Educational Services Limited (AESL), following his request to withdraw his case.

Chaudhary had filed a petition before NCLT in February 2025 to restrain Aakash, its CEO, and other parties, from making changes in the firm’s articles of association, which outlines the internal rules and regulations governing a company's operations, management, and the relationships between shareholders, directors, and the company itself.

NCLT allowed the withdrawal and dismissed all connected applications on April 30, 2025, as per the court order shared by Manipal Education and Medical Group on Thursday. Manipal Health Systems and MEMG Family Group had acquired a majority stake in Aakash in 2024.

Chaudhary is currently a minority shareholder of AESL after selling his stake to Think and Learn, Byju’s parent company. Byju’s is going through insolvency proceedings.