Investment company sends legal notice to Aakash, threatens to take over the coaching centre company

Davidson Kempner Capital Management has served a legal notice to test-prep company Aakash Educational Services, which is a subsidiary of edtech firm Byju’s, accusing Aakash of allegedly breaching covenants on a $270.6m loan. The investment firm also mentioned the right to seize Aakash’s pledged shares as collateral and potentially take over the company. However, it’s unclear whether Byju’s, which recently issued a notice to Aakash’s promoters urging them to close the long-pending acquisition agreement, has also filed a legal notice against the company.

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