New Delhi, Jan. 16 -- A Karnataka high court order on 13 January has effectively "locked" a block of Aakash Educational Services Ltd's (AESL) shares allegedly linked to Byju Raveendran, creating fresh compliance and legal questions around the coaching firm's recently concluded rights issue.

Though there is no immediate threat to AESL's Rs.100 crore rights issue closed in December, according to lawyers, the order draws sharper scrutiny on who ultimately owns and benefits from the shares.

The court order also raises the question of whether AESL can produce a clean paper trail-shareholding records, beneficial ownership declarations, and the full allotment trail-if the court asks for it. Mint explains:

AESL allowed Beeaar Investco Pte. Ltd...