In a recent ruling National Company Law Tribunal (NCLAT) has held that the insolvency of Think and Learn Pvt. Ltd( TLPL) does not restrict Akash Education Services Ltd from increasing its share capital, reaffirming that a subsidiary company retains its independent corporate identity despite its holding company undergoing insolvency proceedings
The appeal arose from I.A. No. 1514 of 2025 filed in the Company Appeal, wherein GLAS Trust Company LLC, the principal financial creditor of TLPL, is against the extraordinary general meeting proposed by Akash to increase its authorised share capital and from taking steps that could dilute TLPL’s shareholding.
The appellant GLAS trust argued that TLPL, which holds …