Manipal Group Seeks Role In Byju’s Parent Insolvency
The Manipal Education and Medical Group India (MEMG) has submitted an expression of interest (EoI) to participate in the corporate insolvency resolution process (CIRP) of Think & Learn Pvt Ltd, the parent company of Byju’s. The submission marks MEMG’s intention to be listed among prospective resolution applicants (PRAs) and underscores its ambition to engage in the restructuring or takeover of Think & Learn.
Strategic Motive And Timing
MEMG’s interest is seen as strategic because the group owns a majority stake in Aakash Educational Services Ltd (AESL), which Think & Learn acquired in 2021 and still holds a minority share in. By entering the CIRP, MEMG could consolidate control and integrate AESL more tightly into its education network. The move also follows recent legal and financial turbulence surrounding Byju’s and its parent entity, including debt issues and regulatory scrutiny.
What Happens Next
Following the EoI submission, the resolution professional will review documents and access requests, after which a provisional list of PRAs will be released. The final shortlisted applicants will then prepare a resolution plan, subject to approval by Think & Learn’s committee of creditors. Submitting an EoI does not guarantee selection, but MEMG currently appears to be the only entity publicly known to have done so.
