Archive · 5 Jun 2025
Aakash Seeks EY Impleadment, Cites Conflict in Byju’s Case
Aakash, a company, is asking the court to include EY in a case about Byju's, another company.
Aakash believes EY, a consulting firm, had a conflict of interest because they advised Byju's on financial matters now being questioned.
They also say the person in charge of resolving the issue, the RP, isn't being fair and has a possible connection to EY.
EY denies the claims.
Aakash is also concerned about the RP's actions and whether they are following the rules.
Aakash filed an application with NCLT in Bengaluru.
Aakash seeks to dismiss a petition filed by Byju’s.
Aakash seeks to implead Ernst & Young (EY) and Ajay Shah.
Aakash alleges EY had a conflict of interest due to its prior advisory role.
Aakash claims the RP suppressed facts and exceeded powers.
- Who
- Aakash Educational Services Ltd (AESL), Byju's, Ernst & Young (EY), Ajay Shah, and Resolution Professional Shailendra Ajmera.
- What
- Aakash seeks to dismiss Byju's petition and implead EY, alleging conflict of interest.
- When
- June 1, when the application was filed; May 28 for RP's letter.
- Where
- Bengaluru, at the National Company Law Tribunal (NCLT).
- Why
- Aakash believes EY had a conflict of interest due to its prior advisory roles and that the RP is acting beyond their powers.
Aakash Educational Services Ltd (AESL)
Ernst & Young (EY) and Resolution Professional (RP)
EY's Role and Conflict of Interest
Aakash Educational Services Ltd (AESL)
AESL alleges conflict of interest due to EY's advisory roles in Byju's transactions.
Ernst & Young (EY) and Resolution Professional (RP)
EY states they refute the allegations and will defend any legal action.
RP's Actions
Aakash Educational Services Ltd (AESL)
AESL claims the RP suppressed facts and acted beyond their statutory powers.
Ernst & Young (EY) and Resolution Professional (RP)
Not explicitly stated; assumed the RP believes their actions are within legal boundaries.
- Location of NCLT
- Bengaluru
- Petitioner
- Aakash Educational Services Ltd (AESL)
- Court
- National Company Law Tribunal (NCLT)
- Parties sought for impleadment
- Ernst & Young (EY) and Ajay Shah
- Allegation against EY
- Conflict of interest
- Transactions in question
- Non-convertible debentures (NCDs), equity conversion, and board decisions
- Resolution Professional (RP)
- Shailendra Ajmera
- Key dates
- May 28 and June 1