New Delhi, March 11 -- Glas Trust Co. LLC, the US lender of bankrupt edtech firm Byju's, has moved the National Company Law Appellate Tribunal (NCLAT) with a fresh plea that seeks to prevent Byju's subsidiary Aakash Educational Services from amending its articles of association (AoA) for restructuring and fundraising. AoAs are a company's internal rulebook that outlines how it will be governed and operated.

The plea follows the withdrawal of a petition on 25 February by Singapore VII Topco, backed by private-equity firm Blackstone, which challenged the proposed amendment. Singapore Topco had secured a stay from the National Company Law Tribunal (NCLT) in November 2024 that prevented Aakash from modifying its AoA.

On Tuesday the NCLAT ag...