Byju's Insolvency Crisis: Dr. Ranjan Pai's MEMG Makes Shocking Bid to Revive Edtech Giant!

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Updated on 13 Nov 2025, 01:46 pm

Manipal Education and Medical Group India Pvt Ltd (MEMG India), under the leadership of Dr. Ranjan Pai, has officially filed an Expression of Interest (EOI) to participate in the corporate insolvency resolution process (CIRP) of Think & Learn Pvt Ltd (TLPL), the parent company of edtech major Byju’s. MEMG has certified that it meets all eligibility requirements under the Insolvency and Bankruptcy Code (IBC), 2016, including compliance with Section 29A, and has submitted all necessary undertakings and documentation. This marks MEMG’s second submission after the EOI deadline was extended. The Resolution Professional (RP) will now review the submissions and prepare a list of prospective resolution applicants (PRAs). Sources indicate MEMG is currently the only entity to have submitted an EOI for Byju’s parent.

Impact: This development could significantly shape the future of Byju's, potentially leading to its revival or restructuring under new management. For MEMG, it represents a strategic opportunity to consolidate its position in the education sector, given its majority ownership in Aakash Educational Services Ltd (AESL), which Think & Learn acquired in 2021. A successful resolution of TLPL could lead to a closer alignment of Aakash with Manipal's broader education portfolio. Rating: 5/10

Difficult terms: Insolvency and Bankruptcy Code (IBC), 2016: A law in India that provides a structured process for resolving insolvency cases of companies and individuals, aiming to recover assets. Corporate Insolvency Resolution Process (CIRP): The legal procedure under the IBC to resolve a company's financial distress, which may involve rehabilitation or liquidation. Expression of Interest (EOI): A preliminary document submitted by parties showing their interest in acquiring or investing in a company undergoing insolvency. Resolution Professional (RP): An insolvency expert appointed by the National Company Law Tribunal (NCLT) to manage the CIRP of a distressed company. Prospective Resolution Applicants (PRAs): Entities that have submitted an EOI and are being evaluated as potential acquirers or investors. Committee of Creditors (CoC): A group of financial creditors who hold the voting rights to approve resolution plans for a distressed company. National Company Law Tribunal (NCLT): India's specialized court for corporate law matters, including insolvency and bankruptcy proceedings. National Company Law Appellate Tribunal (NCLAT): The appellate authority for orders passed by the NCLT.