Mumbai, Feb. 4 -- The resolution professional of edtech giant Byju's parent Think & Learn Pvt. Ltd, or TLPL, has alleged that a Singapore investment vehicle of Byju Raveendran, the embattled promoter of the platform, engaged in "unlawful conduct" to dilute the holding company's rights in test-prep company Aakash Educational Services Ltd or AESL.

AESL, which TLPL had acquired in April 2021 for about $950 million in cash and stock, is an operational part of the Byju's empire. It generated revenues of Rs.2,433 crore in fiscal 2023 (data for the last two fiscal years has not been filed with the ministry of company affairs). Lenders to TLPL are fighting with Raveendran and other shareholders for AESL's control.

In an 8 January legal notice, ...