New Delhi, Jul 5 (PTI) Test preparatory firm Aakash Educational Services has sent a legal notice to consultancy firm EY, its partners and officials, accusing them of advising rivals in conflict of interest and professional misconduct, the company said on Saturday. Aakash Educational Services Ltd (AESL) has alleged that EY was deeply involved in its financial operations since 2021, including advising on the proposed merger with Think & Learn Private Ltd, which owns the Byju’s brand. The test preparatory firm said EY has been involved in the structuring and conversion of debentures into equity and it has now come to light that the consultancy firm also acted as the “exclusive financial advisor and official result validators” to AESL’s direct competitor, Allen Career Institute. “Aakash Educational Services has served a second legal notice through Senior Advocate CV Nagesh to multiple partners and officials of Ernst & Young LLP (EY), accusing the firm of conflict of duty and professional misconduct,” AESL said in a statement. An email query sent to EY did not elicit any reply. “The legal notice highlights that despite AESL’s repeated requests through emails dated April 12, May 6, and May 17, 2025, EY has failed to provide documents and communications related to key transactions, suggesting concealment of critical information,” the statement said. AESL alleged that the refusal contradicts EY’s substantial involvement in AESL’s decision-making and execution of transactions, including the once-proposed merger with TLPL and matters related to the issuance and conversion of debentures. AESL, Head for Legal, Sanjay Garg said the company has already issued notice to Ajay Shah of EY and also impleaded him and other partners of EY in the pending oppression and mismanagement petition filed by the RP of TLPL, who is also from EY, to respond to the allegations therein. “AESL has now come to know EY acted as an exclusive financial advisor and official result validators to a competitor which is a matter of deep concern. AESL is examining the initiation of further civil and criminal proceedings against EY in this regard,” Garg said. AESL has claimed that this simultaneous engagement with a competitor represents an unethical conflict of interest and has called for an investigation into EY’s conduct. Byju’s founders have also sued EY, citing an email from a whistleblower which shows the involvement of the consultancy firm with GLAS Trust. US-based GLAS Trust has filed an insolvency case against Byju’s. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Aakash alleges that EY has engaged in professional wrongdoing by providing advice to competitors, which presents a conflict of interest.
