Think & Learn Private Limited Vs Aakash Educational Services Limited (NCLAT Chennai)
National Company Law Appellate Tribunal (NCLAT), Chennai Bench, has dismissed an appeal filed by Think & Learn Private Limited (TLPL) against an order issued by the National Company Law Tribunal (NCLT), Bengaluru, concerning the shareholding of TLPL in Aakash Educational Services Limited. The appellate tribunal, in its order dated June 20, 2025, deemed the NCLT’s contested ruling as consensual and interlocutory, thus declining intervention at this juncture.
The dispute stems from Company Petition No. 46 / BB / 2025, where TLPL sought interim reliefs regarding its shareholding in Aakash Educational Services. Initially, the NCLT, Bengaluru, had issued an interim order on March 27, 2025, directing parties to maintain status quo on the shareholding of Aakash Educational Services. This order was subsequently challenged before the Hon’ble High Court of Karnataka.
Judicial Precedent and Remittal
The Karnataka High Court, through its order dated April 8, 2025, in Writ Petition No. 10842 / 2025 c/w Writ Petition No. 10859 / 2025, set aside the NCLT’s initial interim order of March 27, 2025. The High Court remitted the matter back to the NCLT for fresh consideration on April 30, 2025. Crucially, the High Court also secured an undertaking from the respondents that TLPL’s shares would not be diluted until the NCLT heard the matter and issued necessary orders on the fixed date. This High Court ruling acted as a pivotal judicial precedent shaping the subsequent proceedings.
