Manipal Group submits contemporary EOI to hitch insolvency technique of Byju’s father or mother firm

In a big improvement within the Byju’s insolvency proceedings, Dr Ranjan Pai-led Manipal Schooling and Medical Group India (MEMG India) has formally submitted an Expression of Curiosity (EOI) to take part within the Company Insolvency Decision Course of (CIRP) of Suppose & Be taught Pvt Ltd (TLPL) — the embattled father or mother firm of edtech main Byju’s, as per stories. 

Based on paperwork filed with the Decision Skilled (RP), MEMG India has requested to be included within the listing of Potential Decision Candidates (PRAs) and expressed its intent to evaluate TLPL’s monetary and operational information for making ready a possible decision plan. This marks MEMG’s second submission, following the RP’s choice to increase the deadline for EOI filings to November 13, 2025. 

In its submission, MEMG confirmed compliance with all eligibility necessities below the Insolvency and Chapter Code (IBC), 2016, together with Part 29A, which prohibits sure disqualified entities from bidding. The corporate additionally furnished all required undertakings, confidentiality commitments, and e-stamped documentation together with its EOI. 

Business observers see MEMG’s renewed curiosity as a strategic transfer, given its majority possession in Aakash Instructional Providers Ltd (AESL) — the teaching institute acquired by Suppose & Be taught in 2021. Byju’s presently holds about 25.7% stake in Aakash after a court-approved rights subject it had opposed. Buying Byju’s remaining share may enable the Manipal Group to achieve full management of Aakash Institute, additional consolidating its schooling portfolio. 

The insolvency course of has additionally been marked by rising friction between the Decision Skilled of Suppose & Be taught and Glas Belief Co. LLC, which controls 99% of the Committee of Collectors (CoC) voting rights. Each had earlier objected to Aakash’s rights subject, arguing that the bancrupt Suppose & Be taught lacked the liquidity to take part. Nevertheless, their objections have been dismissed by the NCLT, NCLAT, and later by the Supreme Court docket. 

Following the verdicts, Suppose & Be taught has deposited ₹25 crore with Aakash to subscribe to its proportional share within the rights subject — a transfer that would now form the course of its decision and the possession way forward for one in every of India’s Most worthy edtech belongings.