New Delhi, 5 April

Troubled edtech firm Think and Learn -- the owner of Byju's brand -- on Thursday sought that the matter involving miffed investors be referred to arbitration.

According to sources, Byju's contested the investor's council allegations before the NCLT that the edtech firm violated the tribunal's order by issuing shares to rights issue investors without completing the process of increasing authorised share capital.

"The respondent also tried to distract the NCLT by saying that the matter needs to be referred to arbitration. The petitioners' counsel pointed to various case law and sections of the law that provide that such a matter cannot be referred to arbitration in view of the violations alleged and the prayer sought," a source who was present during the hearing said.