Byju’s-Aakash settlement talks enter final stretch ahead of NCLT hearing (opens original article in a new tab)

Settlement talks between Manipal Education and GLAS Trust are nearing finalization for the Aakash shareholding dispute ahead of a critical NCLT hearing on June 23, aiming to resolve how the value of Aakash, Byju's key asset, is divided among stakeholders. The proposed settlement involves three main share blocks, with the NCLT hearing potentially finalizing terms or extending the timeline. The dispute has involved legal challenges over Aakash's rights issue and ongoing litigation related to Byju Raveendran's assets.

• Settlement talks between Manipal Education and GLAS Trust enter final stage for Aakash shareholding dispute ahead of NCLT hearing on June 23
• Proposed settlement addresses three sets of Aakash shares including Manipal's 58% stake, Think & Learn's 25.75% stake, and Beeaar Investco's 17,891,289 shares
• NCLT hearing on June 23 may finalize terms or request more time for settlement discussions
• Aakash's rights issue and related legal challenges have been ongoing since October 2023 with Supreme Court rulings allowing the process to proceed