India, April 28 -- Offering some relief to edtech company Byju's, which is battling insolvency concerns, the Karnataka high court has dismissed a petition filed by one of its investors, Qatar Holding LLC (QHL), seeking to restrain Byju's and its founder Byju Raveendran from disposing of assets worth $235 million, including shares in Aakash Educational Services Limited (Aakash Institute).

In an order passed on April 16 this year, Justice Ashok S Kinagi held that since an arbitral tribunal has already been constituted under the Singapore International Arbitration Centre (SIAC) Rules, QHL must seek relief before the Tribunal instead of approaching Indian courts under Section 9 of the Arbitration and Conciliation Act, 1996.

"The petitions a...